The Financial Express

Hong Kong shares rally with Asian peers

Published: December 21, 2017 13:52:34 | Updated: December 22, 2017 11:23:18

File Photo (Reuters) File Photo (Reuters)

Hong Kong stocks rose Asian peers on Thursday, on investor optimism over Beijing’s plans to deepen structural reforms and curb financial risks while maintaining steady economic growth in 2018.

The Chinese government will push forward with structural supply-side reform and maintain prudent, neutral monetary policy next year as it looks to improve the quality of growth.

Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.04 per cent while Japan’s Nikkei index was down 0.05 per cent.

Chinese H-shares listed in Hong Kong rose 0.91 per cent to 11,610.06.

The Hang Seng Index was up 0.49 per cent at 29,378.70, according to Reuters.

The sub-index of the Hang Seng index tracking energy shares rose 1.1 per cent while the IT sector rose 1.1 per cent.

The top gainer on Hang Seng was Ping An Insurance Group Co of China Ltd up 2.43 per cent, while the biggest loser was Wharf Real Estate Investment Co Ltd which was down 1.90 per cent.

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