China stocks ended Thursday morning mixed as small caps rebounded but property shares dropped on profit-taking after the previous session's surge, with investors cautious ahead of a batch of initial public offerings. Hong Kong shares climbed over 1 per cent, encouraged by a jump in Wall Street. The CSI300 index rose 0.2 per cent, to 3,721.21 points at the end of the morning session, while the Shanghai Composite Index lost 0.1 per cent, to 3,566.83. The market was hald back by a sharp correction in property stocks. The CSI300 Real Estate index fell 1.7 per cent, wiping much of Wednesday's 3.5 per cent jump.
In Hong Kong, the Hang Seng index added 1.2 per cent, to 22,442.54 point, while the Hong Kong China Enterprises Index gained 1.2 per cent, to 10,175.30. Geely Automobile Holdings jumped 5.5 per cent, after the Chinese automaker said it plans to concentrate entirely on developing green energy vehicles, eschewing traditional combustion engines and completely overhauling its product portfolio, according to Reuters.
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