Asia stocks rise as China signals more stimulus

04:20

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Asia Pacific

Asia stocks rise as China signals more stimulus

Chinese stocks soared on Tuesday on optimism that Beijing would soon announce a series of measures to bolster its economy. Shares in Hong Kong climbed over 3%, led by real estate stocks after China vowed more support for its ailing property sector. Developer Longfor Group was the biggest gainer on the Hang Seng index, jumping almost 20%, while property management firm Country Graden Services surged more than 17%. It wasn't only property stocks-- Tech names took home their fair share with EV makers gaining more than 10%. Mainland Chinese stocks were also higher, with both the Shenzhen and Shanghai indexes climbing over 2%. This comes after disappointing economic data last week prompted renewed calls for policy support.