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Shanghai: Stocks open higher after Fed hike

Shanghai stocks dropped 3.23 per cent by the close on Thursday, as worries persisted over the slowing domestic economy and its impact on global growth.

[HONG KONG] Shanghai stocks rose soon after opening Thursday as the Federal Reserve's decision to lift interest rates for the first time in almost a decade boosted confidence in the US economy.

In Shanghai, the benchmark composite index added 0.50 per cent, or 17.44 points, to 3,533.63, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, gained 0.62 per cent, or 14.08 points, to 2,294.20.