Hong Kong: Shares rise on Wall St cues, hopes of more China support measures

[SHANGHAI] Hong Kong shares finished higher on Thursday, buoyed by gains in global markets on expectations that the Federal Reserve would keep interest rates low for a longer period.

The Hang Seng Index rose 1.2 per cent to 23,534.53 points. The China Enterprises Index of the top Chinese listings in Hong Kong climbed 0.9 per cent.

Investor sentiment also was underpinned by comments by Premier Li Keqiang published late on Wednesday that China would launch further major investment projects in information networks, water conservancy and environment protection this year.

The leading percentage winner among H-shares was Shanghai Fosun Pharmaceutical Group, which climbed 2.2 per cent.

The financial sector performed well, with Industrial and Commercial Bank of China rising 0.6 per cent, China Construction Bank climbing 1.6 per cent and HSBC Holdings PLC gainning 0.8 per cent.

Shares of China's Tianhe chemicals Group plunged more than 39.4 per cent after a month-long suspension following a stock research's allegations that it had cooked its books. - Reuters

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