HONG KONG: Hong Kong shares surged to seven-year highs on Thursday as mainland Chinese investors poured money into the market via the new stock connect trading link.
The Hang Seng index closed up 2.7% at 26,944.39, its highest closing level since January 2008.
The surge in interest was triggered by Beijing’s move last month to let mutual funds invest in Hong Kong through the connect plan.
The Shanghai Composite ended down 0.9%.
The mainland index closed at 3,957.53 as investors rushed to buy relatively cheaper Hong Kong shares.
