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Financials extend gains to lift Hong Kong shares by midday

HONG KONG (NewsRise) -- Hong Kong shares rose for a second day as financial companies extended gains amid ongoing speculation Donald Trump's incoming administration will pursue policies to boost growth.

The 50-member Hang Seng Index advanced 0.4% to 22,754.26 at the noon break as heavyweight HSBC Holdings headed for a fresh 15-month high, climbing 2.7% to HK$65.10. Standard Chartered, another London-based lender listed in Hong Kong, advanced 2.1% to HK$64.85. Insurers gained amid expectations that their returns will improve with an expected increase in U.S. borrowing costs, with Ping An Insurance Group rising 1.9% to HK$42.20.

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