Hong Kong’s benchmark index was heading for its first weekly gain this month. Photo: AFP
Hong Kong’s benchmark index was heading for its first weekly gain this month. Photo: AFP

Hong Kong stocks cap weekly gain as China cuts key interest rate to spur growth

  • Chinese banks cut the five-year loan prime rate (LPR), a reference for mortgage rates, to 4.45 per cent from 4.6 per cent
  • The cut has bolstered the case for more policy loosening ahead, after official data showed China’s economic activity contracted in April

Hong Kong’s benchmark index was heading for its first weekly gain this month. Photo: AFP
Hong Kong’s benchmark index was heading for its first weekly gain this month. Photo: AFP
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