Hong Kong stocks rally on rate cut optimism

An investor looks at an electronic board showing stock information at a brokerage house in Shanghai November 24, 2017. — Reuters pic
An investor looks at an electronic board showing stock information at a brokerage house in Shanghai November 24, 2017. — Reuters pic

HONG KONG, July 11 — Hong Kong stocks jumped today, tracking a global advance after congressional testimony by the head of the Federal Reserve all but confirmed the bank will cut interest rates at the end of the month.

The Hang Seng Index rose 0.81 per cent, or 227.11 points, to 28,431.80.

The benchmark Shanghai Composite Index edged up 0.08 per cent, or 2.46 points, to 2,917.76, but the Shenzhen Composite Index, which tracks stocks on China’s second exchange, lost 0.13 per cent, or 1.94 points, to 1,548.93. — AFP

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