Hong Kong, Shanghai stocks rise on stimulus hope - RTHK
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Hong Kong, Shanghai stocks rise on stimulus hope

2019-05-15 HKT 16:37
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  • Investors are hoping the mainland authorities will unveil more stimulus programmes to boost the economy. File photo: RTHK
    Investors are hoping the mainland authorities will unveil more stimulus programmes to boost the economy. File photo: RTHK
Hong Kong and Shanghai stocks ended with healthy gains on Wednesday as weak mainland data saw investors bet on fresh stimulus, while they were also buoyed by positive comments from Donald Trump regarding the trade row.

The Hang Seng Index added 0.5 percent, to 28,268.

On the mainland, the Shanghai Composite Index rose 1.9 percent, to 2,938 while the Shenzhen Composite Index rallied 2.3 percent, to 1,577.

"This sharp slowdown increases the likelihood that we will probably see further attempts by China to help stimulate its economy, as well as raising concerns that any hopes of a Chinese economic rebound helping to prompt a global pickup in economic activity look a little bit forlorn at this point in time," said Michael Hewson, chief market analyst at CMC Markets UK.

Tokyo climbed 0.6 percent, Sydney rose 0.7 percent and Seoul added 0.5 percent. Seoul, Taipei, Wellington, Manila and Mumbai were also well in positive territory but Singapore and Jakarta fell.

Oanda senior market analyst Jeffrey Halley warned that "sentiment remains fragile and subject to the whims of trade headlines on either news tickers or social media accounts".

He added that while some gains could be expected "one suspects a lot of money will remain on the sidelines as we await more clarity on the trade situation". (AFP)