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Hong Kong stocks set for five-week high by midday as ECB awaited

HONG KONG (NewsRise) -- Hong Kong shares rose to five-week highs, as Wall Street jumped to record highs on optimism over U.S. policies in Donald Trump's administration and ahead of the European Central Bank's policy review.

The Hang Seng Index rose 0.7% to 22,948.38, set for a third day of gains. China Overseas Land & Investment added 2.1% to HK$22.45 after announcing the appointment of a new chief executive officer late Wednesday. Tencent Holdings advanced 0.9% to HK$191.90 after announcing a strategic tie-up with Starbucks for social gifting over the former's WeChat service. According to local media reports including the People's Daily, the internet company, in a rare move in China, has sued the nation's trademark registration bureau, as well.

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