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Hong Kong: Stocks slip 0.20%, Shanghai rallies


[HONG KONG] Hong Kong stocks eased 0.20 per cent on Tuesday, giving up early gains following a three-day rally, but Shanghai extended a recent rally on hopes China will unveil fresh economy-boosting measures.

The benchmark Hang Seng Index dipped 48.06 points to 23,901.49 on turnover of HK$80.09 billion (US$10.33 billion).

In mainland China, the benchmark Shanghai Composite Index jumped 1.55 per cent, or 53.54 points, to 3,502.85 - its highest close since May 2008 - on turnover of 601.5 billion yuan (US$97.7 billion).

The Shenzhen Composite Index, which tracks stocks on China's second exchange, gained 1.23 per cent, or 21.59 points, to 1,781.78 on turnover of 497.5 billion yuan.