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Brendan Clift

China markets extended their recovery from last week, with the Shanghai and Shenzhen indices settling higher while trading in Hong Kong saw the Hang Seng climb over 1.0 per cent in late afternoon business.
The Shanghai Composite Index increased by 2.39 per cent to finish at 3,970.39, falling back after briefly touching the psychological 4,000 point mark in afternoon trade. 
The CSI300 Index went up by 2.56 per cent to finish at 4211.81. 
Shenzhen's Composite rose 4.18 per cent to 2,120.25, while ChiNext board added 5.80 per cent to 2,683.07.
In a gradual unfreezing of mainland stocks, 359 A-share companies resumed trading on Monday, leaving 11 per cent of Shanghai companies and 50 per cent of Shenzhen companies voluntarily suspended.
Hong Kong’s Hang Seng and H-share indices started down but recovered to finish higher.
The Hang Seng Index rose 1.3 per cent to finish at 25,224.01. The H-share Index advanced 1.23 per cent to 12,003, driven by a 6 per cent hike in auto maker GAC group.
Louis Tse, director of VC Brokerage, said the gains were due to support measures rolled out by the Chinese government.
“I think the gains will continue as sentiment continues to improve,” Tse said. “In Shanghai, they’ll try to break the 4,000 points barrier. They’re encouraging shareholders by saying 4000 is a bull market.”
Tse said local investors were cautious about the suspended A-shares resuming trading and uncertain about the stability of the markets.
“On Thursday and Friday there was quite a meaningful rebound. Investors don’t want to go in unless the market goes down again,” Tse said.
 


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Rows of investors pore over banks of computer screens to watch stock prices in Shanghai. Photo: Reuters

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.css-sioo19{color:#c79a00;}Update | Chinese shares finish higher in extension of rebound, Hong Kong ends up

Update | Chinese shares finish higher in extension of rebound, Hong Kong ends up