HK stocks at three-year high by noon amid budget release

Hong Kong stocks hit another three-year high by noon following the release of the Budget by Financial Secretary Paul Chan Mo-po.

The benchmark Hang Seng Index surged 585 points, or 2.5 percent, to 23,619 at midday, with half-day main board turnover totaling HK$181.57 billion, 1.9 percent lower than Tuesday's midday level.

The Tech Index jumped 210 points, or 3.7 percent, to 5,909.

Budweiser Brewing Company APAC (1876) surged 12.5 percent to close at HK$8.82, making it the top gainer among blue-chip stocks.

In the mainland, the Shanghai Composite Index closed at 3,362, up 16 points or 0.5 percent, while the Shenzhen Component Index rose 25 points, or 0.24 percent, to 10,880.

STAFF REPORTER