0441 GMT - Hong Kong shares rise to multi-year highs, with the Hang Seng Index up 2.6% at 24216.93 around midday. The Hang Seng Tech Index is up 4.7% at 6029.91. Sentiment is driven by China's GDP growth target of around 5% for 2025, matching that of 2024 despite U.S. trade tensions. Markets are also supported by the government's pledges to boost domestic consumption, innovation and the tech industry, the Saxo APAC Research team writes in a note. Tech stocks lead the gains, with Kuaishou Technology up 14%, Alibaba Group rising 7.2% and Tencent gaining 5.8%. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
March 05, 2025 23:41 ET (04:41 GMT)
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