Hang Seng Index jumps on China stimulus hopes as Alibaba stock soars

The Hang Seng Index jumped more than 2% on Monday, making it the best-performing major benchmark in Asia as investors bet on fresh Chinese stimulus following a string of weak economic data. The index climbed to 25,103, its highest level since June 5. Hang Seng Index jumps on stimulus hopes Hong Kong stocks continued rising, even as other Asian benchmarks like Kospi and Nikkei 225 dived. The surge is driven by the rising hope that Beijing officials will provide stimulus after last week’s weak macro data. According to the FT, officials are expected to focus on speeding bond issuance at the next Politburo meeting. The urgency of this stimulus jumped after a report showed that the economy expanded by just...