Hong Kong stocks rebound after U.S. Fed's QE promise

Shenzhou International group

24/03/2020 08:39

March 24 (Reuters) - Hong Kong stocks rallied on Tuesday,
following a broader Asia higher after the U.S. Federal Reserve
rolled out a slew of support measures to ease a global cash
crunch.
    ** At the close of trade, the Hang Seng index  .HSI  was up
967.36 points or 4.46% at 22,663.49. The Hang Seng China
Enterprises index  .HSCE  rose 4.94% to 9,184.44.
    ** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  rose 3.3%, while the IT sector  .HSCIIT  rose 4.49%,
the financial sector  .HSNF  gained 3.92% and the property
sector rose 3.98%.
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 5.06% and Japan's Nikkei index
 .N225  closed up 7.13%.
    ** The Fed said on Monday it would for the first time back
purchases of corporate bonds, backstop direct loans to companies
and expand its asset purchases by as much as needed to stabilise
financial markets.  urn:newsml:reuters.com:*:nL1N2BG0ED 
    ** Mainland China reported a doubling in new virus cases,
driven by a jump in infected travellers returning home from
overseas, raising the risk of transmissions in Chinese cities
and provinces that have seen no new infections in recent days.
 urn:newsml:reuters.com:*:nL4N2BH05M 
    ** China cannot afford to let its guard down when it comes
to combating the coronavirus, with the country still at risk
from sporadic infections as well as those from overseas, a
health official said on Tuesday.  urn:newsml:reuters.com:*:nL4N2BH2FK   
    ** The top gainer on the Hang Seng was WH Group Ltd
 0288.HK , which gained 10.74%, while the biggest loser was
Shenzhou International Group Holdings Ltd  2313.HK , which fell
0.48%.
    ** China's main Shanghai Composite index  .SSEC  closed up
2.34% at 2,722.44 points, while the blue-chip CSI300 index
 .CSI300  ended up 2.69%.
    ** The yuan  CNY=CFXS  was quoted at 7.0715 per U.S. dollar
at 08:24 GMT, 0.26% firmer than the previous close of 7.09. 
    ** The top gainers among H-shares were Geely Automobile
Holdings Ltd  0175.HK  up 10.71%, followed by Fosun
International Ltd  0656.HK , gaining 9.19% and China Telecom
Corp Ltd  0728.HK , up by 8.57%.
    ** At close, China's A-shares were trading at a premium of
30.49% over Hong Kong-listed H-shares.

 (Reporting by the Shanghai Newsroom; Editing by Amy Caren
Daniel)
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))