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French election respite spurs Hong Kong shares

HONG KONG (Nikkei Markets) -- Hong Kong shares rose Monday after a win for independent centrist candidate Emmanuel Macron in the first round of French presidential elections boosted European stocks and fuelled risk appetite.

The Hang Seng Index ended 0.4% higher at 24,139.48, after falling as much as 0.3% intraday. Financials led gains as U.S. and mainland bond yields climbed. London-headquartered HSBC Holdings was the biggest contributor by points, advancing 1.1%. China Life Insurance and Ping An Insurance Group rose at least 1% each as 10-year mainland bond yield climbed to a 20-month high. Bank of Communications added 1.2%, pacing gains for mainland lenders. Sun Hung Kai Properties shed 1.3%, as the rise in U.S. bond yields dragged a gauge of property stocks lower.

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