HONG KONG: China and Hong Kong stocks ended higher for a second session on Wednesday, driven by upbeat remarks by Chinese regulators about policy supports and rising expectations among investors about easing of strict COVID-19 measures.
China’s blue-chip CSI 300 Index ended up 1.2 percent, while the Shanghai Composite Index rose 1.15 percent.
Hong Kong’s Hang Seng Index rallied 2.41 percent, while the Hang Seng China Enterprises Index jumped 2.79 percent, extending Tuesday’s rally, after unverified social media posts about China easing its COVID curbs.
Hong Kong market was closed early in the afternoon, after a typhoon 8 warning signal.
Asian shares ended higher on China boost, after markets made a wobbly start ahead of the US Federal Reserve’s policy outcome later in the global day, with many looking for any signs of a slowdown in future rate hikes.
Structural reform will continue to fuel China’s economic growth, and the country’s reform and opening-up policy will continue, Yi Gang, governor of the People’s Bank of China, told the Hong Kong Monetary Authority’s Global Financial Leaders’ Investment Summit.
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