Fed Comments Boost Hong Kong Stocks

Hong Kong stocks ended on Friday with a small gain, in line with an Asia-wide advance on expectations the Federal Reserve will cut interest rates at the end of the month.

The Hang Seng Index rose 0.1 percent, to 28,471.

China Life Insurance was the biggest blue-chip winner of the day, rallying 1.8 percent. Macau gaming shares also fared well, with Sands China gaining around 1.4 percent and Galaxy Entertainment, 0.4.

Across the border, the Shanghai Composite Index rose 0.4 percent, while Shenzhen grew half a percent.

Tokyo ended 0.2 percent up, Seoul gained 0.3 percent, Wellington added 0.1 percent, and Manila rose 0.4 percent.

Singapore added 0.1 percent despite data showing the city-state's economy taking a serious hit from global trade uncertainty. But Sydney, Taipei and Jakarta were all lower.

On currency markets the yen, euro and pound added to gains against the US dollar though the greenback clawed back some of its past days' losses against higher-yielding, riskier assets such as the South Korean won and Indonesian rupiah. (RTHK, AFP)