The Buzz | China, HK, casino stocks rise on Wall Street rally and bargain hunting

China stocks rose yesterday as a strong rally on Wall Street helped calm shaky global markets, prompting Chinese and foreign investors to hunt for bargains after a 20 percent plunge over the past week.
The Shanghai Composite Index posted its first gain in six days, bouncing back from losses that triggered worldwide selling and wiped nearly 23 percent off its value over the past week. Hong Kong’s Hang Seng advanced 2.9 percent to 21,697.31.
Gaming stocks rose 6 percent overall at the HKSE on bargain hunting.
It might be too early to expect a long-term Chinese rebound, cautioned Huang Cengdong of Sinolink Securities in Shanghai, quoted by Reuters.