Hong Kong stocks jump to 3-year high, erasing trade-war loss on China stimulus hopes

The Hang Seng Index rose 2.4 per cent to 24,156.52 as of 10.03am local time, heading for the highest close since February 21, 2022. The Hang Seng Tech Index surged 3.9 per cent.

On the mainland, the CSI 300 Index climbed 1.1 per cent and the Shanghai Composite Index added 0.8 per cent.

Alibaba Group Holding surged 7 per cent to HK$138, and Tencent Holdings jumped 5.3 per cent to HK$532.50. Kuaishou Technology soared 10 per cent to HK$57.90. CK Hutchison Holdings extended a record rally sparked by the sale of port assets, climbing 7 per cent to HK$50.40.

Investors will keep a close watch on a joint media briefing by the nation’s top economic officials on Thursday afternoon for clues on fresh supportive measures. The press conference will include the chiefs of the finance ministry, the central bank and the securities regulator.