Chinese stocks rallied on the second day in Hong Kong after the Federal Reserve indicated it will raise interest rates gradually despite this month’s global market selloff.
US policymakers were closely looking into economic and financial developments worldwide, as well as oil prices to gauge its implications on the US economy and inflation.
The Shanghai Composite Index, which fluctuated for most of the morning, slipped 0.3% The Hang Seng China Enterprises Index increased 0.7%, as gains by financial and railway companies bolstered the index.
Chinese shares have been the worst performers among world’s benchmark indexes this year, with both indices losing around 17% amid the attempt of People’s Bank of China to bolster the economy by adding more cash into its financial system.
The material has been provided by InstaForex Company – www.instaforex.com