HK stocks head north on rates hopes
The Hang Seng Index finishes Tuesday's trading 169 points higher. File photo: RTHK
Stock markets rose on Tuesday as investors grew increasingly confident the US Federal Reserve will cut interest rates next month, despite concerns about the world's largest economy and US President Donald Trump's tariffs.
In Hong Kong, the Hang Seng Index gained 169 points or 0.68 percent to close at 24,902.
The Hang Seng China Enterprises Index rose 0.65 percent to 8,951, and the Hang Seng Tech Index climbed 0.73 percent to 5,521.
Mainland stocks also gained ground, with the benchmark Shanghai Composite Index up 0.96 percent to 3,617 and the Shenzhen Component Index finishing 0.59 percent higher at 11,106.
However, while there is a broad expectation that the Fed will cut rates, some analysts remained sceptical.
"I continue to believe the Fed will not reduce rates at all this year given rising inflation caused by tariffs and a relatively stable unemployment rate," Lazard chief market strategist Ronald Temple wrote.
Traders were also keeping an eye on trade talks between Washington and dozens of its trade partners after Trump imposed tariffs of between 10 and 41 percent on them. (Agencies)
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