Stock market Illustration: VCGThe Hong Kong stock market extended its three-week rally on Monday, reaching a two-and-a-half-year high in the morning session, buoyed by the latest packet of stimulus policies meted out by China’s monetary authorities to fuel up the economy.Hong Kong is a special administrative region of China.The Hang Seng Index closed up by 1.60 percent to reach 23,099.78 on Monday, the highest level since February 2022. The Tech Index of the Hong Kong stock market surged by 3.05 percent.China’s top chip maker SMIC, headquartered in Shanghai, surged by 21.76 percent to reach HK$33.30 ($4.29), while e-commerce giant Alibaba Group rose 0.61 percent to hit HK$114.60.
China’s central bank has issued a new set of monetary stimulus programs, including a cut in commercial banks’ reserve requirement ratio and the benchmark interest rates to shore up economic revival that have significantly boosted investor sentiment. Driven by the stimulus, both the mainland’s…
Date:
Previous article![]( "How Helene devastated western North Carolina and left communities in ruins | CNN")
Next article![]( "Oklahoma City Thunder vs San Antonio Spurs Oct 7, 2024 Box Scores")
