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Hong Kong: Up on China policy hopes
by hlk Tue 05 Jul 2011, 08:17
SHARES surged yesterday following a rally on Wall Street and on hopes Beijing may be near the end of its monetary tightening campaign.
The benchmark Hang Seng Index gained 1.66 per cent, or 372.37 points, to 22,770.47.
“It’s unlikely for China to hike interest rates in the near future after the nation reported weak manufacturing data,” said Kingston Lin, research director at Fulbright Securities.
HSBC rose 1.6 per cent to HK$78.30.— AFP
The benchmark Hang Seng Index gained 1.66 per cent, or 372.37 points, to 22,770.47.
“It’s unlikely for China to hike interest rates in the near future after the nation reported weak manufacturing data,” said Kingston Lin, research director at Fulbright Securities.
HSBC rose 1.6 per cent to HK$78.30.— AFP
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