HONG KONG: Hong Kong share traded as high as signs of easing price pressures in China has raised hopes of more selective movements Beijing to relax its policy, but Shanghai shares fell slightly, as profit-taking after the rebound set of fifteen-days long rally.
The Hang Seng index rose 1.58 percent to 19,990.3 by the breakdown of negotiations noon, pulling back slightly with a gain of 2 percent in the opening. The rate of major Chinese companies listed on mainland stock locally increased 2.02 percent.
China's annual inflation fell sharply in October to 5.5 percent, down further from three-year peak in July, giving Beijing more room to refine the policy to help an economy to feel the chill of a slowdown world.
China linked to the developers listed in Hong Kong has benefited from short-covering, traders said, while bearish bets on the sector began to rise last week, after nearly a month off.
China Resources Land Ltd, up 3.1 percent , saw short-selling as a percentage of total turnover amounts to a level not seen since August, at the height of the downward trend Chinese stocks.
HSBC Holdings Plc, the largest weight in the index, rose 1.5 percent before its trading update for the third quarter after the market close.
No comments:
Post a Comment