Hong Kong stocks track Wall St gains; China slides

** Hong Kong's Hang Seng Index rose 0.42% and the Hang Seng China Enterprises Index climbed 0.67%. ** Asian share markets mostly rose, despite rising COVID-19 cases in mainland China leaving investors uncertain about the reopening of the world's second-largest economy.

Hong Kong stocks rose on Wednesday after a 5-day losing streak, as gains in U.S. stocks overnight helped the local market. China stocks slipped on surging COVID-19 cases.

** China's blue-chip CSI 300 Index dropped 0.36%, while the Shanghai Composite Index edged down 0.19%. ** Hong Kong's Hang Seng Index rose 0.42% and the Hang Seng China Enterprises Index climbed 0.67%.

** Asian share markets mostly rose, despite rising COVID-19 cases in mainland China leaving investors uncertain about the reopening of the world's second-largest economy. ** China reported 29,157 new cases for Nov. 22 vs 28,127 a day earlier

** Beijing shut parks and museums on Tuesday and Shanghai tightened rules for people entering the city as authorities grappled with a spike in infections. ** "Market sentiment cooled a bit after a strong rally in the first half of November," said Linus Yip, strategist at First Shanghai Securities, adding that overall sentiment leaned towards the positive side, which was driven by the COVID-19 policy pivot and slowing U.S. interest rate hikes, despite frequent COVID outbreaks in China recently.

** Yi Huiman, chairman of the China Securities Regulatory Commission, said on Monday that China will explore ways to establish a capital market with "Chinese characteristics" so market resources can be allocated more effectively. ** Liquidity conditions in China's interbank money markets eased further on Tuesday, as cash supply far outpaced demand.

** China's Bank of Communications agreed to provide 100 billion yuan in credit line to China Vanke. ** State-owned companies were the outperformers in A-shares, with infrastructure names <.CSI000950 > jumping 1.4% and banks rising 0.6.

** Shares in healthcare and education fell 2.7% and 2.8% respectively, dragging the market. ** In Hong Hong, Alibaba jumped 3% after Reuters reported Chinese authorities are poised to impose a fine of more than $1 billion on its affiliate Ant Group, setting the stage for ending the fintech company's two-year long regulatory overhaul.

** Hang Seng Tech gained 0.82%.