HONG KONG: Hong Kong stocks rebounded on Tuesday, helped by real estate shares on signs of policy easing from Beijing, but some major video and live-streaming platforms dropped on fears of regulatory crackdown.
The Hang Seng index rose 1.0% to 22,971.33 points, while the China Enterprises Index gained 1.2% to 8,141.47 points.
An index tracking Hong Kong-listed Chinese developers rose over 2%, amid growing signs Beijing is marginally easing curbs to prevent a contagion from the financial woes at China Evergrande Group and several other heavily indebted developers.
China should “give more prominence to stabilising growth”, He Lifeng, head of China’s state planner, said in an article on Tuesday, a day after China cut its benchmark lending rate.
`Also on Monday, China’s state media reported financial regulators are urging large property companies to acquire real estate projects from troubled players.
Comments
Comments are closed.