Hong Kong, Shanghai shares rally at open

Pedestrians walk past an electronic sign displaying the closing stock numbers for the Hang Seng Index in Hong Kong on April 3, 2018.
Pedestrians walk past an electronic sign displaying the closing stock numbers for the Hang Seng Index in Hong Kong on April 3, 2018.PHOTO: AFP

HONG KONG (AFP) - Shares in Hong Kong and Shanghai rallied at Wednesday's open following strong gains on Wall Street and after the People's Bank of China cut the amount of cash some lenders must keep with it in order to boost liquidity for businesses.

The Hang Seng Index added 1.21 per cent, or 362.91 points, to 30,425.66.

The benchmark Shanghai Composite Index rose 0.82 per cent, or 25.11 points, to 3,091.91 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, climbed 0.63 per cent, or 11.16 points, to 1,795.72.