HK stocks rally on easing US rate fears; China inches up despite Anbang jolt [Reuters]
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Source: Reuters
HK stocks rally on easing US rate fears; China inches up despite Anbang jolt | Reuters Reuters Staff 4 Min Read * SSEC 0.1 pct, CSI300 0.1 pct, HSI 0.8 pct * HK-Shanghai Connect daily quota used 6.5 pct, Shanghai-HK daily quota used 7.4 pct * FTSE China A50 +0.2 pct, BNY Mellon ADR China Select Index +0.4 pct SHANGHAI, Feb 23 (Reuters) - Hong Kong stocks rallied across the board on Friday morning, tracking gains in other Asian markets as comments from a Federal Reserve official eased worries about faster U.S. rate hikes. Shares in listed firms in which Anbang Insurance Group holds stakes were mixed by the lunch break, as China seizes control of the acquisitive financial conglomerate, in a dramatic move that underscores Beijing’s intent to crackdown on financial risk. Some Anbang-related stocks rose because the state takeover would rule out the possibility of a fire sale of assets, traders said. ** At 04:01 GMT, the Shanghai Composite index was up 3.09 points, or 0.09 percent, at 3,271
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