Hong Kong: Stocks rebound to resume rally

[HONG KONG] Hong Kong stocks bounced back Tuesday from the previous day's sharp losses as investors welcomed news that Chinese officials have lined up large tax cuts to help boost the economy.

The Hang Seng Index climbed 2.02 per cent, or 531.96 points, to end at 26,830.29.

The benchmark Shanghai Composite Index gained 1.36 per cent, or 34.57 points, to 2,570.34, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, added 1.49 per cent, or 19.41 points, to 1,323.16.

AFP