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Stocks

Hong Kong stocks follow US indexes higher amid tax optimism

HKEx, Tencent lead gains; AAC Technologies, Geely Automobile decline

HONG KONG (Nikkei Markets) -- Hong Kong shares advanced on Monday after indexes on Wall Street ended at record highs last week amid optimism over U.S. President Donald Trump's proposed tax cuts.

The Hang Seng Index was up 0.5% to 29,001.85 by the noon lunchbreak, after rising as high as 29,089.96 earlier in the day. Heavyweight Tencent Holdings rose 1.5% after sliding 1.3% last week. The social-media and gaming company and Chinese retailer JD.com will invest about $604 million and $259 million, respectively, in newly issued shares by Vipshop Holdings, a Chinese online discount retailer for branded products, JD.com said in a statement on Monday. JD.com shares ended 0.8% lower in New York on Friday.

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