Hang Seng Index rises to three-week high on gains by Tencent, AIA, HSBC
- Upbeat sentiment in Hong Kong boosts market, analyst says
- Hong Kong-listed car dealers jump on thumbs up from Credit Suisse
The Hong Kong and mainland Chinese markets are expected to open with small gains on Thursday, as the wait for a trade deal between the United States and China goes on. An added factor to watch this morning is the US Federal Reserve’s decision to hold off on interest rate changes for the whole of 2020.
The Hong Kong dollar is pegged to the US dollar, and the city’s monetary authority, the de facto central bank, must remain in lockstep with the US Fed.
The Fed’s decision could have repercussions for the Hong Kong property market, the world’s most expensive real-estate sector.
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– Yujing Liu and Azar Zaidi in Hong Kong
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