Hong Kong, China Stocks Jump on Cross-Border Trade Deal
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Stocks rallied in Hong Kong and Shanghai, led by brokerages, after China said it would allow a combined 23.5 billion yuan ($3.8 billion) of daily cross-border trading in equities.
Haitong International Securities Group Ltd. and Guotai Junan International Holdings Ltd. surged at least 13 percent. Tencent Holdings Ltd. jumped the most since 2011, pacing gains by large Chinese companies without mainland listings. Zhejiang Shibao Co., a maker of steering-system parts, surged 65 percent to lead an advance by Hong Kong stocks trading at discounts to their Chinese counterparts.