Friday , January 22 2021
Breaking News
Home / International Markets / Hong Kong stocks open higher, Hang Seng Index edges up 0.3%
Hong Kong stocks open higher, Hang Seng Index edges up 0.3%

Hong Kong stocks open higher, Hang Seng Index edges up 0.3%

HONG KONG: The Hang Seng Index edges up 0.3% higher to 22,442 Wednesday on positive investor sentiment that the Fed might delay raising U.S. interest rates in December. Federal Reserve chairwoman Janet Yellen is expected to give a speech later Wednesday about the rates decision. Property stocks rose after data released Tuesday showed new home prices in mainland China increased for the seventh month in a row. Investor expectations have also been rising for more stimulus from Chinese authorities that would benefit the housing market. Greenland Hong Kong (0337.HK) gained 5% and Joy City Property (0207.HK) rose 4.3%. “The strong Australian third quarter GDP numbers and the positive open of the Chinese cash markets helped pare back some of the earlier losses” across Asia markets, IG says.