Hong Kong shares rose on Thursday after an upbeat economic outlook from the US Federal Reserve boosted global risk sentiment, while the healthcare sector jumped more than 3% to snap a four-day slump.
** At the close of trade, the Hang Seng index was up 54.74 points, or 0.23%, at 23,475.50. The Hang Seng China Enterprises index rose 0.08% to 8,349.65.
** The Federal Reserve said on Wednesday it would end its pandemic-era bond purchases in March and pave the way for three quarter-percentage-point interest rate hikes by the end of 2022 as the economy nears full employment and the US central bank copes with a surge of inflation.
** The subindex of the Hang Seng tracking energy shares rose 3.7%, the financial sector ended 0.08% higher and the property sector rose 0.71%.
** Healthcare shares gained, led by a 11.3% jump in WuXi Biologics (Cayman) Inc on plans to repurchase shares. WuXi shares marked their biggest one-day rise since Oct. 2020, after slumping more than 19% on Wednesday.
** WuXi was the top gainer on the Hang Seng, while the biggest loser was Shenzhou International Group Holdings Ltd, which fell 4.58%.
** The IT sector trimmed earlier losses to end the day down 0.44%. The Hang Seng Tech index
** China's main Shanghai Composite index closed up 0.75% at 3,675.02 points, while the blue-chip CSI300 index ended up 0.58%.
** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.42%, while Japan's Nikkei index closed up 2.13%.
** The yuan was quoted at 6.3665 per US dollar at 08:10 UTC, 0.02% firmer than the previous close of 6.368.
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