Hong Kong stocks, joining an Asia-wide rally, had their biggest gain in eight weeks on Thursday, a day on which the offshore yuan's surge against the dollar stole the spotlight. Resource shares helped lift the Hong Kong market, where stocks finished at a three-week high. The Hang Seng index rose 1.5 percent, to 22,456.69 points, its best day since November 10, while the China Enterprises Index gained 1.7 percent, to 9,598.68 points.
Minutes from the Federal Reserve's December meeting showed that almost all Fed policymakers thought the US economy could grow more quickly after Donald Trump becomes president. "The minutes sent a message that the Fed stays relatively prudent toward interest rate hikes, which lifted interest rate-sensitive stocks such as China Mobile," said Alex Wong, Hong Kong-based director at Ample Finance Group.
Comments
Comments are closed for this article.