Left Menu
Development News Edition

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

Reuters | Hong Kong | Updated: 24-03-2020 15:10 IST | Created: 24-03-2020 14:10 IST
Hong Kong stocks rebound after U.S. Fed's QE promise
Representative Image Image Credit: Flickr

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 was up 967.36 points or 4.46% at 22,663.49. The Hang Seng China Enterprises index rose 4.94% to 9,184.44.

** The sub-index of the Hang Seng tracking energy shares rose 3.3%, while the IT sector rose 4.49%, the financial sector gained 3.92% and the property sector rose 3.98%. ** Around the region, MSCI's Asia ex-Japan stock index was firmer by 5.06% and Japan's Nikkei index 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 stabilize financial markets. ** Mainland China reported a doubling in new virus cases, driven by a jump in infected travelers returning home from overseas, raising the risk of transmissions in Chinese cities and provinces that have seen no new infections in recent days.

** 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. ** The top gainer on the Hang Seng was WH Group Ltd , which gained 10.74%, while the biggest loser was Shenzhou International Group Holdings Ltd, which fell 0.48%.

** China's main Shanghai Composite index closed up 2.34% at 2,722.44 points, while the blue-chip CSI300 index ended up 2.69%. ** The yuan 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 up 10.71%, followed by Fosun International Ltd, gaining 9.19% and China Telecom Corp Ltd, up by 8.57%. ** At close, China's A-shares were trading at a premium of 30.49% over Hong Kong-listed H-shares.



Rethinking Rural Livelihoods in the Times of COVID-19

The reverse migration caused by COVID 19 pandemic has put an additional burden of about one crore people on Indian villages particularly in the states of Uttar Pradesh, Bihar, Bengal and Odisha. Besides increasing the risk of spreading the ...

‘Discounted Deaths’ and COVID 19: Anthropology of Death and Emotions

Death is a social event rather than the mere cessation of biological functions. As seen by anthropologists, death is not just physical but intensely social, cultural, and political....

Indigenous knowledge of communities a must for maximizing impact of community work

Generally, it has been observed that the majority of the academicians in higher education institutions neglect the wisdom of community people and throw their weight around thinking that they know everything and the community knows nothing. ...

In rebuking FBR, Pakistan’s courts take a stand for public health

The system, if implemented effectively, will allow Pakistans revenue service to combat the illicit trade in tobacco products and potentially add hundreds of millions of dollars to the states budget each year. ...


Latest News

Senior CRPF officer attached with MHA COVID control room tests coronavirus positive

A senior rank officer of Central Reserve Police Force CRPF has tested positive for novel coronavirus on Saturday evening. According to an official communication by CRPF, the officer was attached with the Ministry of Home Affairs COVID contr...

200 special trains to run across country starting June 1

Ministry of Railways MoR after consultation with Ministry of Health and Family Welfare MoHFW and Ministry of Home Affairs MHA has announced that train services shall be further partially restored with effect from June 1. Over 1.45 lakh pass...

Infosys among UK firms accessing Rishi Sunak’s Covid-19 job saving scheme

Indian software major Infosys is among the many UK companies to benefit from UK Chancellor Rishi Sunaks Coronavirus Job Retention Scheme, it emerged on Sunday. Infosys, co-founded by Sunaks father-in-law Narayana Murthy, said it had used th...

Spanish PM wants state of emergency extension

Spanish Prime Minister Pedro Snchez says he will ask Spains Parliament for a final two-week extension of the nations state of emergency that has allowed the government to take lockdown measures to control its coronavirus outbreak. Snchez sa...

Give Feedback