HSI Soars, New Factory Data Weighs Down Shanghai
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2019-10-31 HKT 09:52
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Hong Kong stocks rose more than 1 percent in the morning session on Thursday after the Federal Reserve cut interest rates for the third time this year.
The Hang Seng index climbed 1.1 percent, to 26,949.
On the mainland, data that showed Chinese factory activity weakening more than expected in October cast a shadow. The Shanghai Composite Index fell 0.9 percent to 2,936, while the Shenzhen Composite Index added 0.2 percent, to 1,626.
Tokyo and Seoul advanced as investors welcomed the Fed's third rate cut this year to shore up economic growth.
The Fed has "ample time to add a few more gallons of high octane to the tank and boost a sputtering US economic engine", said Stephen Innes of Oanda in a report. (AP)
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Last updated: 2019-10-31 HKT 12:30
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