Hong Kong: Stocks extend gains in typhoon-hit trade

HONG Kong stocks ended a truncated day of trading with more gains on Wednesday (Nov 2), building on the previous day’s surge on hopes China will begin winding back some of its painful zero-Covid policies.

The Hang Seng Index rose 2.41 per cent, or 371.90 points, to 15,827.17, a day after climbing more than five per cent.

The surge came after an unverified post on social media suggested officials were forming a committee to discuss rolling back some of the country’s strict measures, which have stunted growth and hit supply chains.

The Shanghai Composite Index rose 1.15 per cent, or 34.17 points, to 3,003.37, while the Shenzhen Composite Index on China’s second exchange climbed 1.33 per cent, or 25.85 points, to 1,968.20.

The Hong Kong market was closed early on Wednesday due to Severe Tropical Storm Nalgae skirting the city. AFP