0821 GMT - Hong Kong's benchmark Hang Seng Index closed 2.4% higher at 21133.68, as investors continue to cheer China's stimulus measures to boost the economy. There were fresh streaks of stimulus from China last Friday and over the weekend, including the People's Bank of China announcement that it will be instructing banks to lower mortgage rates for existing home loans before Oct. 31, Saxo Markets' APAC Research team write in a commentary. Among the gainers, Alibaba Health Information Technology climbed 30%, Zhongsheng Group rose 15% and SMIC added 12%. Meanwhile, Henderson Land Development fell 3.5% and Hansoh Pharmaceutical Group shed 3.2%.(amanda.lee@wsj.com)
(END) Dow Jones Newswires
September 30, 2024 04:21 ET (08:21 GMT)
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