ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Equities

Hong Kong stocks advance after intraday slide

Chinese banks gain; investors cautious on US rates before Fed chairman's testimony

HONG KONG (Nikkei Markets) -- Hong Kong shares headed higher after a choppy morning session on Thursday, as a recovery for heavyweight Tencent Holdings and mainland companies erased early losses stemming from lingering concern about a faster-than-expected pace of U.S. interest-rate increases.

The Hang Seng Index had gained 0.2% to 30,917.16 by the noon break, after falling as low as 30,453.82 earlier in the day. The gauge fell 1.4% on Wednesday, capping its worst monthly performance in more than two years. Tencent was up 2.4% on Thursday after falling as much as 1% in early trading. Agricultural Bank of China (ABC) rose 1.2% to lead the Hang Seng China Enterprises Index 0.2% higher by the lunchbreak. The gauge had fallen as much as 1.6% in the morning.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more