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Hong Kong shares rise, getting cues from mainland rebound
[HONG KONG] Hong Kong shares rose on Wednesday, drawing optimism from a rebound in mainland markets, as investors there shrugged off MSCI's decision not to add mainland shares to one of its key benchmark indexes.
But the Hong Kong market remains under pressure, with investors worried about global growth, and the prospect of Britain voting next week to leave the European Union.
The Hang Seng index rose 0.4 per cent, to 20,467.52, while the China Enterprises Index gained 0.3 per cent, to 8,609.59 points.
Index provider MSCI Inc said on Tuesday that Beijing had more work to do in liberalising its capital markets before it could add Chinese A shares to its emerging markets index, which is tracked by US$1.5 trillion of managed assets.
The MSCI Emerging Market Index already includes some Chinese H shares listed in Hong Kong.
All main sectors in Hong Kong, except for IT stocks, rose.