Hong Kong, Asian Stocks Rally on Upbeat Earnings Outlook and China Support Measures
• Hong Kong stocks surge over 2% boosted by news of Alibaba founders buying company shares • China reportedly plans measures to support equities market with $280B from state firms • Asian indexes mostly higher following Wall Street gains; Tokyo slips on hawkish central bank comments • Upbeat outlook on US earnings season so far eases worries about impact of high interest rates • Alibaba stock jumps nearly 8% in New York, paring 2022 losses that reached over 70% amid tech crackdown