HSI +1.8%, HSCE +1.4%, CSI300 +3.2% FTSE China A50 +4.2%
May 25 (Reuters) - Hong Kong stocks rose on Tuesday, posting their best session in nearly two months, as fears around inflation faded, while solid gains on the mainland also boosted risk appetite. At the close of trade, the Hang Seng index was up 1.75% at 28,910.86, marking its biggest daily percentage gain since April 1. The Hang Seng China Enterprises index rose 1.42% to 10,792.63. The sub-index of the Hang Seng tracking energy shares rose 1.2%, while the IT sector rose 1.97%, the financial sector ended 1.42% higher and the property sector rose 0.6%. The top gainer on the Hang Seng was WuXi Biologics (Cayman) Inc, which gained 5.92%, while the biggest loser was Sino Biopharmaceutical Ltd, which fell 2.87%.
ASX to edge up, Nasdaq leads modest Wall Street gains
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Australian shares are set to edge higher at the open as US stocks edged higher in New York.
ASX futures were up 8 points or 0.1 per cent to 7098 near 6am AEST. The currency slipped. The yield on the US 10-year yield was 2 basis points higher to 1.58 per cent near 4pm in New York.
Bitcoin was trading at $US38,409.72 on bitstamp.net at 6am AEST. It earlier bounced off its 200-day moving average around $US40,600 highlighting how difficult it may be for it to regain its upward momentum.
On Wall Street, stocks traded in a narrow range for a second day with the Dow modestly positive and the S&P 500 up 0.2 per cent near 4pm in New York. The Nasdaq advanced 0.6 per cent.
Tech, real estate firms lead gains U.S. Fed’s Clarida downplays concerns over inflation
SHANGHAI, May 26 (Reuters) - Hong Kong shares closed at a near four-week high on Wednesday, led by tech and property stocks, as a strong yuan and U.S. Federal Reserve’s dovish monetary policy stance soothed inflation concerns. At the close of trade, the Hang Seng index was up 255.15 points, or 0.88%, at 29,166.01, its highest closing level since April 29. The Hang Seng China Enterprises index rose 0.58% to 10,855.58. Leading the gains, the IT sector rose 1.07%, the property sector gained 1.29%, while the financial sector ended 0.67% higher. U.S. Federal Reserve officials reaffirmed a dovish monetary policy stance on Tuesday, boosting sentiment in Asian markets. China’s yuan extended gains to a near three-year high, helping ease the pressure from rising prices of imports, analysts said.
HSI +1.8%, HSCE +1.4%, CSI300 +3.2% FTSE China A50 +4.2%
May 25 (Reuters) - Hong Kong stocks rose on Tuesday, posting their best session in nearly two months, as fears around inflation faded, while solid gains on the mainland also boosted risk appetite. At the close of trade, the Hang Seng index was up 1.75% at 28,910.86, marking its biggest daily percentage gain since April 1. The Hang Seng China Enterprises index rose 1.42% to 10,792.63. The sub-index of the Hang Seng tracking energy shares rose 1.2%, while the IT sector rose 1.97%, the financial sector ended 1.42% higher and the property sector rose 0.6%. The top gainer on the Hang Seng was WuXi Biologics (Cayman) Inc, which gained 5.92%, while the biggest loser was Sino Biopharmaceutical Ltd, which fell 2.87%.