You are here

Hong Kong: Shares end near 3-month high on global rally

37439640 - 11_02_2016 - HONG KONG HKEX.jpg

[HONG KONG] Hong Kong stocks jumped more than 2 per cent on Wednesday to a nearly three-month high, as the US Federal Reserve's dovish remarks triggered the market's best performance in nearly a month.

The Hang Seng index rose 2.2 per cent, to 20,803.39, while the China Enterprises Index gained 2.9 per cent, to 8,979.41 points.

Markets scaled back expectations for how fast and far US interest rates might rise this year, after Fed Chair Janet Yellen emphasised global dangers to growth and inflation, and thus the need to proceed "cautiously" on tightening policy.

All main sectors rose, with energy shares among the best performers.

Index heavyweights including Sinopec and PetroChina rose sharply on reform expectations, traders said.

REUTERS

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom