Hong Kong stocks rebound after U.S. Fed's QE promise [Reuters (UK)]
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Source: Reuters
Hong Kong stocks rebound after U.S. Fed's QE promise - Reuters 2 Min Read March 24 (Reuters) - Hong Kong stocks rallied on Tuesday, following a broader Asia higher after the U.S. Federal Reserve rolled out a slew of support measures to ease a global cash crunch. ** At the close of trade, the Hang Seng index was up 967.36 points or 4.46% at 22,663.49. The Hang Seng China Enterprises index rose 4.94% to 9,184.44. ** The sub-index of the Hang Seng tracking energy shares rose 3.3%, while the IT sector rose 4.49%, the financial sector gained 3.92% and the property sector rose 3.98%. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 5.06% and Japan’s Nikkei index closed up 7.13%. ** The Fed said on Monday it would for the first time back purchases of corporate bonds, backstop direct loans to companies and expand its asset purchases by as much as needed to stabilise financial markets. ** Mainland China reported a doubling in new virus cases, driven by a jump in infected tr
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