You are here

Hong Kong: Shares end up as US rate hike views ease

9-39544846 - 18_08_2016 - CHINA-HONGKONGSHENZHEN_MSCI.jpg

[SHANGHAI] Hong Kong shares bounced on Tuesday amid doubts the Federal Reserve would raise interest rates as soon as September.

The Hang Seng Index rose 0.9 per cent, to 23,016.11, while the China Enterprises Index gained 1.1 per cent, to 9,597.25 points.

Fed Chair Janet Yellen on Friday said the case for a rate increase was strengthening, but provided little detail on when the Fed would next move, keeping investors guessing if the rate increase would really happen next month.

Most sectors in Hong Kong rose, with material stocks leading the rise.

China Southern Airlines' Hong Kong-traded stock slumped over 6 per cent, after the carrier reported an 11 per cent drop in first-half profit.


BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to