HONG KONG, Feb 6 — Shares in Hong Kong and mainland China soared today as Beijing ramped up efforts to bolster the country’s battered markets.
The two bourses are among the world’s worst-performing in 2024, as traders fret over ongoing weakness in the world’s second-largest economy, particularly the colossal property sector, as well as government crackdowns on various industries including tech.
China’s leadership has become increasingly worried about the sell-off, which has wiped trillions off valuations, and has unveiled a string of measures to try to staunch the rout.
The Hang Seng Index in Hong Kong ended up 4.04 percent, or 626.86 points, to 16,136.87.
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The Shanghai Composite Index climbed 3.23 percent, or 87.30 points, to 2,789.49, and the Shenzhen Composite Index on China’s second exchange rocketed 5.14 percent, or 73.68 points to 1,506.79.
The advance in Hong Kong was largely helped by a surge in market…
