Hong Kong’s Hang Seng Index rises more than 5% after heavy buying of Chinese stocks in a variety of sectors
Shares of Chinese companies listed in Hong Kong jumped on Friday, after U.S. officials wrapped up a crucial audit inspection in the city and a transcript circulated on social media suggesting China was considering reversing its strict coronavirus policies.
The Hang Seng Index closed the day more than 5% higher after Chinese stocks in a variety of sectors saw heavy buying. Tech giant Alibaba Group Holding Ltd. , vehicle maker Geely Automobile Holdings Ltd. and restaurant chain Haidilao International Holding Ltd. were all up by double-digits in percentage terms. China’s CSI 300 index ended the day up 3.3% and the Shanghai Composite Index was 2.4% higher.
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