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Nikkei Markets

Hong Kong shares gain on hopes for China monetary support

HSBC extends losses after announcing annual earnings and cost-cut plans

HONG KONG (Nikkei Markets) -- Hong Kong shares ended higher on Wednesday, paced by mainland-China heavyweights listed in the city, on lingering hopes for policy support from authorities in Beijing to mitigate the economic impact from the coronavirus outbreak.

The Hang Seng Index added 0.5% to close at 27,655.81. Among heavyweights, China Construction Bank rose 1.2%, while Tencent Holdings climbed 0.8%. HSBC Holdings fell 1.3%, extending Tuesday's 2.8% drop, after the London-headquartered lender reported a decline in 2019 profit, flagged job cuts and signaled the coronavirus outbreak was muddying its outlook.

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