Hong Kong shares rebound, short covering lifts China coal

Hong Kong shares were on track for their first gain in three days, with China markets also rebounding, as investors covered short positions ahead of a European Central Bank meeting later on Thursday and a US payrolls report on Friday.

Investors cut bearish positions to avoid being caught offguard by any surprises from the ECB meeting, which is expected to leave interest rates unchanged. Weaker than expected US jobs data could ease jitters about the Federal Reserve tapering its aggressive monetary easing.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1275218/hong-kong-shares-rebound-short-covering-lifts-china