Hong Kong stocks up

Hong Kong stocks closed higher on Thursday after the island city's central bank cut interest rates, mirroring the US Federal Reserve's rate-cut announcement on Wednesday. The Hang Seng index rose 0.9% to 26,906.72, while the China Enterprises index gained 0.5% to 10,533.24. The Hong Kong Monetary Authority (HKMA) lowered its policy rate by 25 basis points to 2% on Thursday, following the US central bank's move to cut rates for the third time this year. The city's policy moves lock-step with the United States as its currency is pegged to the greenback at 7.75-7.85 per dollar.