HONG KONG: Hong Kong stocks advanced in the first few minutes of trade after China cut borrowing costs at the end of last week and removed a cap on savings rates for commercial banks to boost competition.
Hang Seng Index in Hong Kong added 1.17 per cent, or 271.70 points, to 23,423.64.
The benchmark Shanghai Composite Index jumped 1.06 per cent, or 36.22 points, to 3448.65, on Monday while the Shenzhen Composite Index, which tracks stocks on China’s second exchange, gained 1.27 per cent, or 25.56 points, to 2042.30.
