HK shares higher after PBOC extends property measures
Hong Kong's stock market opened higher on Tuesday after the central government unveiled measures to help the country's ailing property sector and flagged further support for other parts of the economy. The Hang Seng Index added 1 percent to 18,671. The Shanghai Composite Index put on 0.2 percent to 3,211, while the Shenzhen Composite Index on China's second exchange edged up 0.1 percent to 2,039.  The People's Bank of China (PBOC) on Monday extended until the end of 2024 some policies in a November rescue package to shore up the real estate sector, with current supports failing to gain traction and markets expecting more stimulus to be rolled out soon. The central bank said it would continue a policy to extend developers' loans due this year by 12 months Separately, loans issued to support the delivery of unfinished projects before the end of 2024 will not be downgraded in risk classification during the loan term, the PBOC added. (AFP and Reuters)