The Dangle Seng Index superior 1 per cent to 19,982.20 as of 9.45am native time, whereas the Dangle Seng Tech Index gained 1.2 per cent. On the mainland, the CSI 300 Index jumped 1.5 per cent and the Shanghai Composite Index superior 1.6 per cent.
Alibaba Group Holding surged 2 per cent to HK$83.85, semiconductor producer SMIC gained 2.1 per cent to HK$43.00, whereas gaming firm NetEase added 2 per cent to HK$157.90.
Beginning this yr, 30 per cent of the annual insurance coverage premium earned from new coverage gross sales might be invested in China’s onshore markets, Wu Qing, the chairman of the China Securities Regulatory Fee, mentioned at a press convention in Beijing on Thursday. These investments would enhance by 10 per cent yearly over the following three years, he added.
The measures comes as China tries to counter the specter of tariffs from Trump, who mentioned that he was contemplating a ten per cent tariff on Chinese language exports from February 1.
A minimum of 100 billion yuan (US$13.8 billion) of insurance coverage funds might be allotted for the inventory market in a pilot programme throughout the first six months, half of which might be permitted earlier than the Lunar New 12 months that commences on January 29, Xiao Yuanqi, the vice-chairman of the Nationwide Monetary Regulatory Administration, mentioned on the identical press convention.