Chinese and Hong Kong stocks rose on Thursday, after China's securities watchdog vowed to deepen market reforms and improve the quality of listed companies.
** China's benchmark CSI300 index rose 0.6% to 3,854.34 at the end of the morning session, while the Shanghai Composite Index gained 0.2% to 3,075.81.
** In Hong Kong, the Hang Seng index added 2.8% to 19,688.67 points.
** The China Securities Regulatory Commission (CSRC) said in a statement late on Wednesday that the economy will recover as strong stimulus policies take effect, boding well for China's capital markets.
** China is now grappling with a surge in infections after Beijing dropped its strict zero-COVID policy, but the CSRC said it's fully confident toward the "bright future" of China's economy.
** The CSRC will push for an expansion of the mainland-Hong Kong Stock Connect scheme, implement offshore listing reforms, and deepen cooperation with Hong Kong's capital markets.
** Earlier in the week, Chinese and Hong Kong securities regulators said that they have agreed in principle to further expand the scope of eligible stocks under the mainland-Hong Kong Stock Connect.
** The Hang Seng Tech Index jumped as much as 5.2%, as investors were encouraged by CSRC's vows to support private firms and technology platform companies.
** Alibaba Group Holding, Bilibili Inc and Xpeng Inc all rose sharply.
** The CSRC said it will fast-track greenlighting of the first offshore listing by a "platform" company under China's new approval system.
** Property shares also rose, after the CSRC reiterated its support to the struggling sector. (Reporting by Shanghai Newsroom; Editing by Rashmi Aich)