Hong Kong, Shanghai shares surge on China hopes

Shares in Hong Kong and Shanghai rallied on Thursday on hopes the Chinese government will launch a stimulus package to shore up the domestic economy.

Hong Kong's benchmark Hang Seng Index jumped 2.55 percent, or 532.93 points, to 21,437.49 on turnover of HK$73.07 billion (US$9.43 billion).

Shanghai surged 3.23 percent. The Shanghai Composite Index jumped 64.86 points to 2,072.99 on turnover of 131.0 billion yuan ($20.9 billion).