China's blue-chip stock index closed higher on Thursday, posting its biggest jump in more than 3 months, as softer-than-expected U.S. inflation data prompted bets of less aggressive rate hikes from the Federal Reserve.
** Big tech companies listed in Hong Kong snapped a three-day losing streak, helping the city's main stock benchmark rise the most in nearly one month.
** The blue-chip CSI300 index ended 2.0% higher, while the Shanghai Composite Index gained 1.6%.
** The Hang Seng index rose 2.4%, while the China Enterprises Index gained 2.7%.
** Foreign investors bought more than 13.2 billion yuan ($1.96 billion) of Chinese stocks via the Stock Connect scheme, the highest in nearly two months.
** Slowing U.S. inflation may have opened the door for the Fed to temper the pace of interest rate hikes, easing the pressure of capital outflows from emerging markets, including China.
** Securities firms jumped more than 5% to lead the gains, while healthcare and information technology both rose nearly 3%.
** "Slower place of U.S. rate hikes is good news for growth stocks such as major internet firms," said Linus Yip, chief strategist at First Shanghai Group. The Hang Seng Tech Index jumped 3.7%.
** Shares of Alibaba gained more than 4% in Hong Kong, despite plans by SoftBank Group Corp to slash its stake in the Chinese tech giant. Investors are relived that the Japanese conglomerate will use a derivative called "prepaid forward contracts", rather than directly selling shares in the market.
** Alibaba and food-delivery giant Meituan, which also surged more than 4%, were biggest gainers boosting the Hang Seng Index.
** Property shares in both China and Hong Kong rebounded on Thursday, led by a 5.7% surge in Longfor.
** The Chinese developer said late on Wednesday its commercial paper dues had been settled without any deferred payment, refuting rumours of its default.
(Reporting by Shanghai Newsroom; Editing by Sherry Jacob-Phillips and Uttaresh.V)