Hong Kong stocks return to 4-month high as stimulus rally carries on

Quick Summary:

Limiting gains, local developers retreated after New World Development’s shares were suspended amid CEO report, imminent results.

Limiting gains, local developers retreated after reports that New World CEO Adrian Cheng is set to step down and trading in the company’s shares was suspended.CK Asset lost 1.2 per cent to HK$32.35, Sun Hung Kai Properties declined 0.9 per cent to HK$82.10 and Henderson Land lost 0.4 per cent to HK$25.40.

The People’s Bank of China’s surprise stimulus package earlier in the week sparked renewed hopes that Beijing is willing to pull all the stops to get the stagnant economy moving.

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Article Details

Author / Journalist: Jiaxing Li

Category: Business

Markets: Hong KongChina

Topics: Declined Local Surged Stocks Trading Cent Stimulus World Index Jumped Developers

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-26 @ 10:35:48 (1 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 245 words

Reading Time: 2 minutes read

Sentences: 5 lines

Sentence Length: 49 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 22713785

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