Hong Kong stocks are rallying after policymakers said they will allow fund managers to sell Hong Kong-registered funds directly to Chinese investors.
The Hang Seng Index rose 1.9 per cent in early trading, following a three-day weekend.
Last week Hong Kong and Beijing confirmed that as of July 1, fund managers will be able to market HK funds on the mainland for the first time — the "holy grail" for some, according to Chris Powers, an analyst at Z-Ben, the Shanghai-based asset management consultancy.
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