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Home / zimbabwe / The Hang Seng Index briefly climbs over 28,000 for the first time in four months after China's PMI at the top of the estimate, the Fed pauses, trade talks are underway

The Hang Seng Index briefly climbs over 28,000 for the first time in four months after China's PMI at the top of the estimate, the Fed pauses, trade talks are underway



Stocks of Hong Kong and China landed on Thursday, after the official indication of Chinese manufacturing activity came better than expected, although it still indicated the continuation of contraction in that sector.

The Hang Seng Index has opened up to a higher level and grew further in early trading, which is 1 percent at 27,908.38. The Hang Seng China Enterprises Index, known as the H-share index, grew by 1.1 percent to 11,015.36.

Tencent has risen, up 1.9 percent to $ 350.60. Sunny Optical Technology, a supplier of Huawei smartphone components, has risen by 2.5 percent to $ 76.50. AAC Technologies, which supplies the acoustic components to Apple, also added 0.7 percent to $ 48.25.

That's China! No, it's Japan! In a month-long fight, China has again gained title as the home of the second largest world stock market

Investors also grew after Fed showed cautious access to the upward exchange rate on Wednesday in Washington. Hang Lung Properties rose 1.1 percent to $ 17.02. Sun Hung Kai Properties improved by 0.8 percent to $ 131.80.

Meanwhile, trade talks between US and Chinese officials began overnight. Trade war continues to burden the mood of the market.

On the mainland, the Shanghai Composite Index recorded a growth of 0.4 percent to 2,586.90 at an early stage.

Earlier on the same day, government statistics showed that the index of industrial customers in the country (PMI) for January was 49.5, slightly better than December 49.4 and above the previous forecast of 49.3 in the Reuters analyst's poll.

But this was the second month the figure remained below the 50-th mark that separated the spread from the contraction in the sector.

Chinese production declined again in January because of fears of economic slowdown

Among other indices, CSI300 with large capitalization increased 0.4 percent to 3,181.46. Shenzhen Component Index and ChiNext's Starter Index rose 0.3 percent, or 0.2 percent, to 7.483.93 and 1.233.69.

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Overnight at Wall Street, the US main indexes went up, after the Federal Reserve remained at interest rates after its first policy meeting in 2019 and pointed to an open position on rising future rates, while Apple and Boeing's earnings surpassed market assessments.

Dow Jones Industrial Average grew by 1.8 percent to 25,014.86. S & P 500 rose 1.6 percent to 2,681.05. Index Nasdaq Composite rose 2.2 percent to 7.183.08.

Elsewhere in Asia, the Japanese Nikkei 225 grew in trading on Wednesday, an increase of 0.9 percent to 20,734.91. Australian S & P / ASX 200 and South Korean Kospi added 0.2 percent and 0.1 percent to 5.899,30 and 2.207.49.


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