HK bourse booms as Stock Connect hits limit

Strong support for Hong Kong stocks from mainland Chinese buyers boosted the Hang Seng benchmark index to a seven-year high yesterday. After lunch the daily southbound quota under the Shanghai-Hong Kong Stock Connect scheme, permitting mainland investors to tap Hong Kong stocks, hit its Rmb10.5 billion ($1.7 billion) limit for the first time, helping to push the Hang Seng index up by 3.6% to close the day at 26,236 points – a level not seen since 2008. Daily turnover on the…