Hong Kong Market gains with eyes on Fed meetings

Hong Kong share market finished higher for the first time in three consecutive sessions on Tuesday, 20 September 2022, as investors risk appetite returned on tracking positive lead from Wall Street overnight and strength on the Mainland China market.

Also, investors sentiment boosted up amid speculation the city will soon reopen its borders to the world, while China's new stimulus measures further lifted sentiment.

However, market gains capped amid caution ahead of the U.S. Federal Reserve meeting later in the day. The U.S. central bank is expected to hike rates aggressively in an effort to curb inflation.

At closing bell, the benchmark Hang Seng Index advanced by 215.45 points, or 1.16%, to 18,781.42. The Hang Seng China Enterprises Index was up 67.08 points, or 1.06%, to 6,405.38.

 

Shares in casino and tech issues advanced, on expectation of easing of pandemic restrictions, with Macau gaming-houses Sands China up 7.7% and Galaxy Entertainment up 4.3%. Web-outfit NetEase rose 3.9%.

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