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China shares rebound from multi-week lows, brokers lead

Source : REUTERS
Last Updated: Wed, Feb 27, 2013 07:41 hrs

HONG KONG, Feb 27 (Reuters) - China shares rebounded from multi-week lows on Wednesday, led by strength in the brokerage sector, on easing of investment rules and expectations of greater liquidity in the money market.

The CSI300 of the top Shanghai and Shenzhen A-share listings closed up 1.1 percent at 2,594.7 after falling to its lowest close since Jan. 17 on Tuesday. The Shanghai Composite Index rose 0.9 percent.

China's market regulator issued draft rules on Tuesday that would make it easier for brokerages to package, securitise and resell a wide range of assets from real estate to receivables to commercial paper.

Adding to the sentiment, China's central bank looked set to resume injecting liquidity into the money market, assuaging worries that recent moves to drain money signalled the beginning of a wider tightening cycle.




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