Home Stock & Shares Hong Kong shares touch 9-month high on Wall Street strength

Hong Kong shares touch 9-month high on Wall Street strength

by Jonathan Adams

Hong Kong shares powered to a nine-month high on Friday, taking cues from Wall Street’s records overnight, with energy shares leading the charge on higher oil prices.

The benchmark Hang Seng index rose 0.8 per cent, to 22,766.91, while the China Enterprises Index gained 1.4 per cent, to 9,554.85 points.

For the week, HSI gained 2.8 per cent while HSCE jumped 4.6 per cent.

Overnight performance in U.S. stocks lifted sentiment. The S&P 500, the Dow Jones Industrial Average and Nasdaq all closed at historic highs on Thursday for the first time since 1999, on higher crude oil and upbeat corporate results.

The Hang Seng, which trades at half the valuation of Dow or S&P, has climbed roughly 25 per cent from this year’s low in mid-February.

This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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