Hong Kong, Shanghai Stocks Boosted By Li Pledge

Hong Kong shares closed 0.53 percent higher Monday, while Shanghai surged to a five-year high after Chinese Premier Li Keqiang said the government was ready to support the economy if it slows took much.

The benchmark Hang Seng Index added 126.34 points to 23,949.55 on turnover of HK$ 73.16 billion ($ 9.44 billion).

In mainland China the benchmark Shanghai Composite Index jumped 2.27 percent, or 76.40 points, to 3,449.31 — its highest close since August 2009 — on turnover of 479.4 billion yuan ($ 77.8 billion).

The Shenzhen Composite Index, which tracks stocks on China’s second exchange, surged 3.05 percent, or 52.11 points, to 1,760.19 on turnover of 418.5 billion yuan.

Source: AFP