HSI Up At Noon Despite US Stimulus Uncertainty

Hong Kong stocks finished the morning session on a positive note on Wednesday following three days of losses as investors appeared unfussed by President Donald Trump's call for US lawmakers to amend their US$900 billion stimulus package.

The Hang Seng Index rose 0.44 percent, or 116 points, to 26,235.

Stocks across the border also climbed, led by gains in manufacturers and suppliers of electric vehicles, as investors were assured that policymakers would avoid sudden policy tightening in 2021 to support an economic recovery from the pandemic-induced slump.

By the midday break, the Shanghai Composite index was up 0.85 percent at 3,385 while China's blue-chip CSI300 index was up 0.99 percent.

China's central bank will scale back support for the economy in 2021 and cool credit growth, but fears of derailing a recovery and debt defaults are likely to prevent it from tightening any time soon, policy sources said. (AFP/Reuters)

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