Hong Kong stocks rise on Fed caution, China media hints at market support

Hong Kong stocks rose on Wednesday, lifted by dovish comments from US Federal Reserve Chair Jerome Powell and hints of support from Chinese state media.

The benchmark Hang Seng Index rose 308 points, or 1.21 percent, to 25,749 at midday. The Hang Seng China Enterprises Index gained 101 points, or 1.11 percent, to 9,180, while the Hang Seng Tech Index climbed 1.18 percent to 5,992.

Turnover was HK$158.6 billion for the morning session, down 15 percent from the previous day’s midday level.

In mainland China, the Shanghai Composite Index closed at 3,869, up 4 points, while the Shenzhen Component Index ended at 12,895, rising less than 1 point.

STAFF REPORTER