Hong Kong stocks jumped 2 percent to near two-month highs on Thursday, lifted by bullishness in mainland markets and increased expectations that Beijing will make fresh stimulus moves. The Hang Seng index rose 2.0 percent, to 22,884.49, the highest close since August 20. The China Enterprises Index gained 2.1 percent, to 10,546.06 points. During October 26-29, Beijing will hold a key meeting to help draft the next five-year plan for China's economic and social development.
Expectations have been building that the government will announce new measures to aid a struggling economy, including more infrastructure investments and further monetary easing. All main Hong Kong indexes rose on Thursday, with the service sector leading the charge. Shares of China Unicom (Hong Kong) Ltd, China Telecom Corp Ltd and China Mobile Ltd gained after China's three main telecom operators agreed to consolidate towers and related assets in a jointly owned firm, to reduce duplication of infrastructure.