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Hong Kong: Stocks hit near 4-week high as China steps up support

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Flags of the Hong Kong Stock Exchange (C) and Hong Kong (R) are seen at Exchange Square. The Hang Seng index closed up 0.5 per cent at 27,959.60, after touching its highest level since Jan 22.

[HONG KONG] Hong Kong stocks rose to the highest level in almost four weeks on Monday as Beijing stepped up policy stimulus to cushion the economic impact from the coronavirus outbreak.

The Hang Seng index closed up 0.5 per cent at 27,959.60, after touching its highest level since Jan 22.

China's main Shanghai Composite index and the blue-chip CSI300 index rallied on Monday and erased all their losses from the steep plunge two weeks ago, triggered by fears of the coronavirus outbreak. 

REUTERS