Hong Kong: Shares rally on Fed rate hopes

[HONG KONG] Hong Kong stocks rallied more than one per cent in the first few minutes of trade on Thursday after another weak batch of US data reinforced hopes the Federal Reserve will delay raising interest rates until next year.

The benchmark Hang Seng Index in Hong Kong added 1.01 per cent, or 227.51 points, to 22,667.42.

However, Shanghai's benchmark composite index slid 0.23 per cent, or 7.41 points, to 3,255.03, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 0.46 per cent, or 8.72 points, to 1,875.44.

AFP