Hong Kong stocks end 4% higher on Fed rate hope

HONG KONG stocks soared on Friday (Jun 2) on growing optimism the Federal Reserve will not hike interest rates at its next meeting this month, while traders also welcomed the passage of a bill to avert a US default.

The Hang Seng Index surged 4.02 per cent, or 733.03 points, to 18,949.94.

The Shanghai Composite Index climbed 0.79 per cent, or 25.43 points, to 3,230.07, while the Shenzhen Composite Index on China’s second exchange jumped 1.16 per cent, or 23.39 points, to 2,035.62. AFP