At closing bell, the benchmark Hang Seng Index increased 88.91 points, or 0.42%, to 21,163.91. The Hang Seng China Enterprises Index was up 31.92 points, or 0.43%, to 7,399.60.
Expectations of further stimulus measures grew after various local governments in China launched a slew of incentives to spur property sales amid a downturn in the real estate market. Meishan, a city in Sichuan Province, is offering subsidies for new home purchases. Wenzhou, a city in Zhejiang Province, will now allow interest-only repayments on the first three years of mortgages.
Authorities at Huainan, a city in Anhui Province, ordered banks to shorten the loan approval process, as well as bring down mortgage rates and down payment requirements for first-time home buyers.
Shares of Huaneng Power advanced nearly 10% after the electricity producer said it will apply for the voluntary delisting of its American depositary shares from the New York Stock Exchange.
Netease shares skidded 6.7% after the firm announced a delay to the release of its eagerly anticipated video game Diablo Immortal in China, just days before it was expected to launch officially.
Shares of Alibaba fell 0.1% after reports that China's central bank has accepted Alibaba-affiliate Ant Group's application to form a financial holding firm, reviving hopes for a potential public listing for Ant.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
