China stocks track global peers higher

** Asian shares and bonds extended a global rally as a non-committal Federal Reserve Chair Jerome Powell had markets double down on bets that U.S. interest rates have peaked and cuts are on the way. ** Overnight, the Fed held the policy rate steady in its current 5.25%-5.50% range.

China stocks edged up on Thursday, while Hong Kong shares rose, tracking global markets as investors bet that U.S. interest rates have peaked and cuts are on the way. ** The blue-chip CSI 300 Index and the Shanghai Composite Index were both up 0.1% by the midday recess.

** Hong Kong's Hang Seng Index added 1.2% and the Hang Seng China Enterprises Index climbed 1.4%. ** Asian shares and bonds extended a global rally as a non-committal Federal Reserve Chair Jerome Powell had markets double down on bets that U.S. interest rates have peaked and cuts are on the way.

** Overnight, the Fed held the policy rate steady in its current 5.25%-5.50% range. While Chair Jerome Powell did not rule out another hike, markets judged he was not quite as hawkish as he might have been. ** "This round of rate hike cycle probably have finished," said Zhang Chi, analyst at Sinolink Securities in a note, adding it would ease the outflow pressure for China stocks.

** Zhang said China growth stocks, especially healthcare companies, as well as Hong Kong-listed tech companies would benefit the most. ** Tech giants listed in Hong Kong jumped 2.3%.

** However, in onshore market, most stocks fell despite a slight gain in the benchmark index, amid concerns of a fragile economic recovery. Latest data showed China's factory activity unexpectedly contracted in October. ** Shares in new energy and liquor makers were down roughly 1% each, while media firms added 2.5%.