China Shares Gains Curbed by Central Bank’s Tightening

China stocks rose on Monday morning, with sentiment helped by reported progress in restructuring state-owned enterprises , but the rebound was curbed by the central bank’s surprise move to raise short-term interest rates late last week. Despite the tightening there were capital outflows to the Hong Kong share market, putting the index on track to break a four-day losing streak, with gains led by mainland companies.