Hong Kong Stocks Rise After 3-Day Drop
Hong Kong stocks jumped 227 points, or 1.1%, to 20,509 during the morning session on Thursday, marking their first gain in four sessions. The gains followed an upbeat session on Wall Street overnight, amid a recovery in the U.S. tech sector, falling Treasury yields and a steady stream of earnings reports.
Most sectors contributed to the rally, with technology, discretionary consumer goods and financials among the top movers, after Hong Kong leader John Lee delivered his annual policy speech on Wednesday in which he unveiled measures to attract foreign talent and investment, ease mortgage restrictions and lower import duties on liquor from 100% to 10% for drinks with an alcohol content of more than 30%.
Source: Trading Economics