China Mobile and China Unicom both declined heavily after Morgan Stanley cut their stock ratings to underweight due to low estimated returns on 5G network investment. Photo: Reuters

China stocks hit nearly 3-month high as insurers continue rally on policy boost expectations

Hong Kong stocks pare declines at close as insurers and car manufacturers help offset losses in banks and telecoms

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China Mobile and China Unicom both declined heavily after Morgan Stanley cut their stock ratings to underweight due to low estimated returns on 5G network investment. Photo: Reuters
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