Hong Kong: Stocks start week with gains

[HONG KONG] Hong Kong stocks bounced on Monday, having been hammered last week by coronavirus fears, with traders cheered by an expected Federal Reserve rate cut and speculation that China will provide support to markets.

The Hang Seng Index rose 0.62 per cent, or 161.75 points, to end at 26,291.68, having lost more than four per cent last week.

The benchmark Shanghai Composite Index jumped 3.15 per cent, or 90.63 points, to 2,970.93, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, surged 3.77 per cent, or 67.90 points, to 1,869.65.

AFP