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Hong Kong: Stocks close 0.26% higher


[HONG KONG] Hong Kong and Shanghai stocks rose Monday after China's central bank cut interest rates for the second time in just over three months as it tries to boost the economy.

The benchmark Hang Seng Index ended up 0.26 per cent, or 64.15 points at 24,887.44 on turnover of HK$79.70 billion (US$10.29 billion).

In mainland China the Shanghai Composite Index rose 0.79 per cent, or 25.99 points, to 3,336.29 on turnover of 410.3 billion yuan (US$65.4 billion).

The Shenzhen Composite Index, which tracks stocks on China's second exchange, jumped 2.06 per cent, or 33.60 points, to 1,663.65 on turnover of 373.8 billion yuan.