Hong Kong: Stocks bounce back on US tax hopes

[HONG KONG] Hong Kong stocks surged more than one per cent on Friday, taking a big chunk out of the previous day's sharp losses, with investors buoyed by hopes for Donald Trump's market-friendly tax-cutting plans.

The Hang Seng Index jumped 1.17 per cent, or 328.15 points, to 28,487.24 - after losing almost two per cent Thursday.

And the benchmark Shanghai Composite Index climbed 0.25 per cent, or 8.48 points, to 3,378.65 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.80 per cent, or 15.96 points, to 1,999.68.

AFP