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Hong Kong Market rises 0.56%

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Headline indices of the Hong Kong share market closed higher on Friday, 15 March 2019, as risk sentiments underpinned after vowed strong measures to boost slowing economic growth and as and appeared to have made more progress in their trade talks. At closing bell, the advanced 160.87 points or 0.56% to 29,012.26. The Enterprises Index added 60.90 points or 0.53% to 11,508.17.

Investors chased for value buying as pledged not to let economic growth fall below a reasonable range. will not let economic growth slip out of a reasonable range amid downward pressure on its economy, Li said on Friday at a press conference marking the end of the annual meeting of the National People's The Chinese pledged strong measures to support growth, saying that the government could use tools such as reserve requirements and interest rates. Li added that would cut value-added tax (VAT) for and other sectors on April 1 and social security fees from May 1. Li's comments at the close of the annual parliament meeting came a day after China lowered its growth target to 6 to 6.5 percent for 2019, down from around 6.5 percent last year.

On the trade front, the Congress, China's parliament, voted on Friday to approve a new foreign investment law, which is designed to ease foreign concerns about China's investment environment, especially as China and the work to try to end a trade war. Chinese spoke by telephone with

and U. S. Trade Robert Lighthizer, making further substantive progress on trade talks, as per reports.

Blue chips rose across the board. (00700) advanced 0.4% to HK$359. (00005) nudged up 0.3% to HK$64.85. HKEX (00388) gained 1.8% to HK$277.2. (00941) added 0.5% to HK$85.95. AIA (01299) edged down 0.3% to HK$78.5.

gaming counters were higher after the government said it has extended the gaming concessions of and to 26 June 2022.. (00027) shot up 2.6% to HK$52.9. (00200) ascended 2.3% to HK$17.7. (00880) rose 1.6% to HK$8.83. (01128) gained 3.6% to HK$18.36. (01928) surged 3.1% to HK$38.3. MGM China (02282) put on 3.5% to HK$15.2.

(02382) shot up 5.1% to HK$96.15 after BofAML's upgrade. (02018) edged up 0.6% to HK$45.5. (00992) added 1.3% to HK$6.82. (00285) rose 0.8% to hK$9.91.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 15 2019. 17:04 IST