HK and mainland shares rally on bank stakes

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Hong Kong and Shanghai stocks surged at the opening of trading on Thursday on hopes for broad state support for mainland markets after the China’s sovereign wealth fund bought stakes in the mainland’s biggest banks.

The Hang Seng Index climbed 2.04 percent, or 365.16 points, to 18,258.26.

The Shanghai Composite Index rose 0.74 percent, or 22.75 points, to 3,101.71, while the Shenzhen Composite Index added 0.48 percent, or 9.13 points, to 1,915.98. (AFP)



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