Hong Kong shares track gains on mainland, Wall Street; end higher

Hong Kong shares ended the session higher on Thursday, echoing gains on the mainland and global markets. Analysts said gains in Hong Kong were tracking surges on Wall Street, as the S&P 500 rose and the Dow hit a record high after tepid consumer price data for February calmed inflation worries and Congress approved the $1.9 trillion stimulus package. China stocks jumped as better-than-expected February bank lending data lifted market sentiment and relieved some policy tightening worries.

Hong Kong shares ended the session higher on Thursday, echoing gains on the mainland and global markets. At the close of trade, the Hang Seng index was up 478.09 points or 1.65% at 29,385.61. The Hang Seng China Enterprises index rose 2.54% to 11,340.4.

The sub-index of the Hang Seng tracking energy shares rose 2.7%, while the IT sector rose 4.52%, the financial sector ended 0.63% higher and the property sector dipped 0.34%. Analysts said gains in Hong Kong were tracking surges on Wall Street, as the S&P 500 rose and the Dow hit a record high after tepid consumer price data for February calmed inflation worries and Congress approved the $1.9 trillion stimulus package.

China stocks jumped as better-than-expected February bank lending data lifted market sentiment and relieved some policy tightening worries. ** Around the region, MSCI's Asia ex-Japan stock index was firmer by 1.72%, while Japan's Nikkei index closed up 0.6%.

Sino-U.S. relations were among other key focuses, with some market hopes for de-escalation in the ties between the world's two largest economies. Chinese diplomats will meet with U.S. officials in Alaska on March 18 and 19, a Chinese foreign ministry spokesman said on Thursday.

 

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