Hong Kong stocks extended gains in afternoon trade as sentiment was boosted by the announcement of financial market reforms at the Lujiazui financial forum, which got under way in Shanghai on Wednesday.
The Hang Seng Index jumped 2.7 per cent to 18,406.74 as of 3pm local time on Wednesday. The Tech Index added 3.2 per cent but the Shanghai Composite Index declined 0.4 per cent.
China’s top stock market regulator Wu Qing unveiled fresh measures to reform the technology board, or the Star Market, focusing on underwritings, mergers and stock incentives and trading to promote tech innovation at his keynote speech at the two-day Lujiazui financial forum.
That added to the upbeat mood after Wall Street’s rally overnight took the S&P 500 and Nasdaq to new peaks propelled by the artificial intelligence (AI) mania which made Nvidia the world’s most valuable company.
AI-related stock Lenovo Group jumped 7.4 per cent to HK$11.90. Morgan…
