Shares in Hong Kong extended their winning streak on Monday, as China’s broad stimulus measures lifted market sentiment.
The benchmark Hang Seng Index climbed 2.43 percent to 21,133.68 points, the highest close since February 2023, extending straight gains since last Tuesday. In the last five trading days, the index gained more than 15 percent.
The Hang Seng Tech Index surged 6.7 percent to close at 4,751.81 points while the Hang Seng China Enterprises Index jumped 2.88 percent to 7,509.79 points.
The rally was fueled by a package of stimulus measures announced last week by China’s financial regulators to boost growth. China’s central bank, top securities regulator and financial regulator last Tuesday announced a raft of monetary stimulus, property market support and capital market strengthening measures to support the country’s high-quality economic development.
Source: The Namibia News Agency