HK Stocks Up At Noon On US Stimulus Hopes

Hong Kong stocks went into the break on Wednesday with healthy gains as investors cheered signs US lawmakers could be close to agreeing a new, much-needed stimulus package.

The Hang Seng Index rose 1.26 percent, or 331 points, to 26,636.

Mainland stocks also edged higher as data showing a slower pace of fall in factory gate prices added to recovery signs in the world's second-largest economy, although concerns over Sino-US relations weighed on the market.

At the midday break, the Shanghai Composite index was up 0.06 percent at 3,412, also helped by positive Covid vaccine news.

China's blue-chip CSI300 index was down 0.12 percent, with its financial sector sub-index higher by 0.57 percent, the consumer staples sector down 0.37 percent, the real estate index down 0.35 percent and the healthcare sub-index down 0.41 percent.

China's factory gate prices fell at a slower pace in November, adding to signs that the economy continues to recover from the pandemic, but consumer prices declined for the first time in over a decade on falling food prices. (AFP/Reuters)