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2382 - Sunny Optical Technology Co News Story

HK$170.2 -14.9  -8.1%

Last Trade - 07/05/21

Sector
Technology
Size
Large Cap
Market Cap £17.31bn
Enterprise Value £16.72bn
Revenue £4.24bn
Position in Universe 101st / 6096

HK stocks close higher as investors cheer dovish Fed stance

Thu 18th March, 2021 8:33am
* HK->Shanghai Connect daily quota used 5.7%, Shanghai->HK
daily
quota used 4.8%
    * HSI +1.3%, HSCE +1.0%, CSI300 +0.8%
    * FTSE China A50 +0.8%

    SHANGHAI, March 18 (Reuters) - Hong Kong stocks ended firmer
on Thursday, in line with broader Asian markets, after the U.S.
Federal Reserve pledged to maintain accommodative monetary
policy and projected a rapid jump in U.S. economic growth this
year. 
    ** The Hang Seng index  .HSI  closed 1.3% higher at
29,405.72, while the China Enterprises Index  .HSCE  gained 1%
to 11,470.43.   
    ** The U.S. economy is heading for its strongest growth in
nearly 40 years, the Federal Reserve said on Wednesday, and
central bank policymakers are pledging to keep their foot on the
gas despite an expected surge of inflation.  urn:newsml:reuters.com:*:nL1N2LF2JI  
    ** Leading the gains, the Hang Seng tech index  .HSTECH  and
the Hang Seng industrials index  .HSCIIG  climbed 1.2% and 1.7%,
respectively. 
    ** Though analysts said there were still headwinds going
ahead, including a further rise in U.S. treasury yields and
slower southbound flows. 
    ** "Hong Kong stocks will remain rangebound for the time
being, given the recent correction in the A-share market that
helped slowed down the pace of southbound flows via the Stock
Connect linking mainland and the island city," said Linus Yip,
chief strategist at First Shanghai Group. 
    ** "Some mainland mutual funds, which invest both in the
onshore market and Hong Kong, could need to sell Hong Kong
stocks to deal with redemptions following recent declines in the
onshore market," he added.   
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.57%, while Japan's Nikkei index
 .N225  closed 1.01% higher.
    ** The yuan  CNY=CFXS  was quoted at 6.5033 per U.S. dollar
at 0818 GMT, 0.03% firmer than the previous close of 6.5052. 
    ** At close, China's A-shares were trading at a premium of
33.55% over Hong Kong-listed H-shares.

 (Reporting by the Shanghai Newsroom, Editing by Sherry
Jacob-Phillips)
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))
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