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Hong Kong: Stocks surge to end torrid month on a high

Friday, January 29, 2016 - 16:49

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Hong Kong stocks rallied Friday, ending a volatile month on a high, after Japan announced a surprise negative interest rate policy, effectively charging banks to store their cash in a bid to kickstart lending in the country.

[HONG KONG] Hong Kong stocks rallied Friday, ending a volatile month on a high, after Japan announced a surprise negative interest rate policy, effectively charging banks to store their cash in a bid to kickstart lending in the country.

The Hang Seng Index rose 2.54 per cent, or 487.28 points, to close at 19,683.11.

However, the index still ended the month down about 10 per cent, swiped by concerns over the global economy, particularly China, and plunging oil prices.

AFP

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