HONG KONG: Hong Kong shares rebounded from eight-week lows on Wednesday, tracking gains in US markets on speculation the Federal Reserve will maintain a pledge to keep rates low when a two-day policy meeting ends later in the day.
China shares remained weak after a choppy morning session, however, despite a media report saying its central bank was injecting liquidity into the country’s top lenders.
By midday, the CSI300 of the leading Shanghai and Shenzhen A-share listings was flat, while the Shanghai Composite Index slipped 0.2 per cent to 2,292.41 points. Both indexes posted their biggest daily loss in more than six months on Tuesday, with Shanghai volume more than double its 20-day moving average.
The Hang Seng Index, which had fallen eight days in a row, climbed 1.1 per cent to 24,395.07 points. The China Enterprises Index of the top Chinese listings in Hong Kong rose 1.7 per cent.
The Dow hit a record intraday high after the Wall Street Journal’s Fed watcher Jon Hilsenrath said the central bank would keep the words “considerable time” in its policy statement, though it might qualify them.
