HONG KONG: Hong Kong stocks surged more than three percent at the open on Monday after China unveiled a series of measures aimed at rescuing the country’s property sector and moved to ease some Covid measures.

The Hang Seng Index rose 3.89 percent, or 673.60 points, to 17,999.26 – after rocketing more than seven percent on Friday owing to easing fears over US interest rate hikes.

Hong Kong stocks close up 7.7 percent

The Shanghai Composite Index added 0.44 percent, or 13.57 points, to 3,100.87, while the Shenzhen Composite Index on China’s second exchange rose 0.15 percent, or 2.96 points, to 2,020.92.