Hong Kong: Shares open higher as Fed lowers rate hike outlook

[HONG KONG] Hong Kong shares rallied in the first few minutes of trade on Thursday, tracking gains in New York after Federal Reserve boss Janet Yellen lowered her expectations for US interest rate hikes this year.

In Hong Kong, the Hang Seng Index climbed 1.59 per cent, or 322.36 points, to 20,580.06.

And the benchmark Shanghai Composite Index edged up 0.17 per cent, or 4.98 points, to 2,875.41, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.38 per cent, or 6.44 points, to 1,717.91.

AFP