Yuan Hits 3-Year High as Hong Kong Stocks Jump
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Hong Kong's stock market rose sharply on Tuesday, lifted by a surge in the Chinese currency. The yuan reached its strongest level against the US dollar since May 2023.
The city's benchmark Hang Seng Index gained 1 per cent by midday. The Hang Seng Tech Index also advanced.
The gains came as global investors looked for opportunities beyond US markets. This shift in focus boosted stock prices across Asia.
On the Chinese mainland, major stock indexes were mostly steady. However, shares in pharmaceutical and healthcare companies continued to perform well, leading the market.