HSI Gains As Asian Markets Rally Over Fed Comments

Hong Kong shares rose on Thursday, tracking regional gains after the Federal Reserve signalled it would slow down its pace of interest rate hikes.

The Hang Seng Index gained 1.1 percent, to 27,942.

On the mainland, the benchmark Shanghai Composite Index added 0.4 percent, to close at 2,584 but the Shenzhen Composite Index closed 0.7 percent lower, at 1,274.

Tokyo shares gained more than 1 percent following overnight rallies on Wall Street. The benchmark Nikkei 225 index rose 1.1 percent, to close at 20,773.

Elsewhere, Singapore rose 0.7 percent while Wellington, Mumbai, Jakarta and Manila were sharply higher. Seoul and Sydney, however, dipped.

The greenback remained stuck below 109 yen, while the euro and the pound – which have suffered some turbulence over the Brexit saga in recent days – were also slightly higher.

The Australian dollar and Indonesia's rupiah rallied 1 percent, while the South Korean won was 0.4 percent higher. The New Zealand dollar, South African rand and Russian ruble were also well up, while yuan was sitting at a six-month high. (AFP)