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Hong Kong Hang Seng recoups ground

Capital Market 

Headline shares of the Hong Kong market were on a firmer footing on Friday, 07 December 2018, as a global sell-off sparked by the arrest of Huawei's showed signs of running out of steam. Meanwhile risk sentiments were bolstered by report suggesting the U. S. could consider a slower tempo of increasing interest rates than had been previously expected. Market gains were, however, limited amid US economic concerns, as well as the tentative trade stalemate between the country and In afternoon trades, the added 70.41 points or 0.27% to 26,226.79.

The Enterprises Index fell 6.52 points or 0.06% to 10,474.20.

The rebound was partly attributed to reports that officials are considering a "wait-and-see mentality" after a likely interest rate hike later this month. Traders also went bargain hunting following the early sell-off.

OFFSHORE MARKET: US closed mixed on Thursday amid interest rate optimism after reports that officials are considering a "wait-and-see mentality" after a likely interest rate hike later this month. The shed 79.40 points or 0.32% to 24,947.67. The S&P 500 slipped 4.11 points or 0.15% to 2,695.95 while the recovered from its intraday losses to end the trading day 29.83 points or 0.42% higher at 7,188.26.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, December 07 2018. 10:33 IST
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