SHANGHAI, Feb 8 (Reuters) - China shares rose slightly in early trade on Thursday after Beijing ousted the head of the securities watchdog, replacing him with a veteran regulator with a reputation for tough action as policymakers struggle to stabilise the country's stock markets.
China's blue-chip CSI 300 Index edged up 0.2%. It has pulled off five-year lows in recent sessions amid a slew of supportive policies to boost the market, though analysts are doubtful of the rebound's staying power without fresh stimulus measures.
The cabinet has replaced Yi Huiman as chairman of the China Securities Regulatory Commission (CSRC) with Wu Qing, who has led the Shanghai Stock Exchange and served as a key deputy in Shanghai's municipal government, Xinhua said on Wednesday.
Hong Kong's Hang Seng Index, meanwhile, slipped 0.1% dragged by a 5% decline in Alibaba Group Holding, after the internet giant missed analysts' estimates for third-quarter revenue (Reporting by Shanghai Newsroom; Editing by Kim Coghill)
