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JUNE 21 2010 10:48h

Hong Kong stocks surge more than three percent

CHINA, Shanghai : TO GO WITH STORY China-economy-finance-property-stocks BY ALLISON JACKSON A Chinese investor walks past an electronic board showing stock index figures at a trading house in Shanghai on September 16, 2009. Despite fears of bubbles in China’s property and stock markets, Beijing will maintain its stimulus policies and pump more money into the economy until its manufacturing sector recovers, analysts say.
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Hong Kong shares surged more than three percent on Monday after the Chinese government said at the weekend that it would make the yuan exchange rate more flexible.

The benchmark Hang Seng Index closed 3.08 percent, or 625.47 points, higher at 20,912.18. Turnover was 90.19 billion Hong Kong dollars (11.60 billion US).


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