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Nikkei Markets

Hong Kong shares jump on US rally, China policy support hope

Chinese property developers and infrastructure companies advance

HONG KONG (Nikkei Markets) -- Hong Kong shares jumped on Friday after a technology stock-driven rally spurred U.S. equity indexes to fresh lifetime highs, with Chinese companies listed in the city also bolstered by expectations for policy support from Beijing.

The Hang Seng Index added 1.2% to 28,193.40 by noon. Internet services major Tencent Holdings climbed 1.8%, contributing most to the gauge's gains by points, after the technology-heavy Nasdaq Composite rose above the 9,000-point mark for the first time ever. AIA Group added 1.6%. The pan-Asia insurer said it intends to convert its Shanghai branch into a wholly owned subsidiary, following Beijing's decision to remove shareholding restrictions on life insurers from Jan. 1, 2020.

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