Hong Kong stocks surge on Fed move

The name of Hong Kong Exchanges and Clearing Limited is displayed at the entrance in Hong Kong, China January 24, 2018. — Reuters pic
The name of Hong Kong Exchanges and Clearing Limited is displayed at the entrance in Hong Kong, China January 24, 2018. — Reuters pic

HONG KONG, June 16 — Hong Kong stocks rallied more than two per cent today as world markets were given a much-needed boost by a Federal Reserve move to provide cash for firms hit by virus lockdowns.

The Hang Seng Index climbed 2.39 per cent, or 567.14 points, to 24,344.09.

The benchmark Shanghai Composite Index rallied 1.44 per cent, or 41.72 points to 2,931.75 and the Shenzhen Composite Index on China’s second exchange jumped 1.77 per cent, or 33.00 points to 1,898.35. — AFP

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