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Hong Kong: Shares up for 4th day on easing Brexit fears, Yellen remarks

Wednesday, June 22, 2016 - 16:15
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[HONG KONG] Hong Kong stocks rose for a fourth straight day on Wednesday as investors were hopeful Britain will vote to stay in the European Union this week, while Federal Reserve Chair Janet Yellen's cautious tone on future rate hikes also soothed sentiment.

The Hang Seng index rose 0.6 per cent, to 20,795.12, while the China Enterprises Index gained 0.7 per cent, to 8,763.11 points.

Risk appetite in global markets was helped by opinion polls in recent days that showed rising momentum for the "Remain" camp ahead of Thursday's British referendum on its EU membership.

All main sectors rose, with IT and energy shares leading the gain.

Index heavyweight Tencent Holdings Ltd gained 2.1 per cent, after China's biggest gaming group said it would buy a majority stake in 'Clash of Clans' mobile game maker Supercell to expand its interest overseas.

REUTERS