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China stocks find footing as stimulus awaited



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SINGAPORE, Oct 23 (Reuters) -China and Hong Kong stocks made a steady open of trade on Wednesday, as the promise of government help for the economy supported the major indexes to settle in at higher levels.

China's blue-chip CSI300 Index .CSI300 inched down 0.3% to 3,944 and the Hong Kong benchmark Hang Seng .HSI climbed about 0.1% at 20,515 in early trade.

In both cases that was well below recent peaks above 4,450 and 23,000, respectively, but also a sharp break higher than levels plumbed in a years-long downtrend while the economy has struggled with a property crunch and weak consumer confidence.

Shares of China Resources Beverage 2460.HK traded about 12% above its offer price as the stock began trading on the Hong Kong Exchange after raising $650 million in an initial public offering.


China stocks rally strongly https://reut.rs/3ZQNtV0

China's benchmark stock index logs biggest daily gain since 2008 https://reut.rs/4dmrDfq


Reporting by Tom Westbrook
Editing by Shri Navaratnam

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