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Hong Kong shares end slightly higher, investors await Fed policy meet outcome

CHINA-STOCKS/HONGKONG-CLOSE (URGENT):Hong Kong shares finish barely increased, traders await Fed consequence

Posted by Harshit Sabarwal | Reuters

PUBLISHED ON MAR 17, 2021 02:23 PM IST

Hong Kong shares ended barely increased after a risky session on Wednesday as traders awaited the US central financial institution’s coverage meet consequence for cues on whether or not it might begin elevating rates of interest sooner than it had beforehand mentioned.

Fed policymakers are anticipated this week to forecast that the US financial system will develop in 2021 on the quickest fee in a long time, because the Covid-19 vaccination marketing campaign gathers tempo and a $1.9 trillion reduction bundle washes via to households.

On the shut of commerce, the Dangle Seng index was up 6.43 factors, or 0.02%, at 29,034.12. The Dangle Seng China Enterprises index rose 0.26% to 11,358.66.

The subindex of the Dangle Seng monitoring vitality shares dipped 1.1%, whereas the IT sector fell 0.25%, the monetary sector ended 0.07% decrease and the property sector rose 0.19%.

“Markets are treading water with gentle turnover, indicating a scarcity of conviction, and it appears cheap as it will be laborious for the FOMC to please everybody,” Stephen Innes, chief international market strategist at Axi, mentioned in a be aware.

Within the area, Asian shares fell on Wednesday, monitoring Wall Avenue as traders waited to see if the Fed will sign a sooner path towards coverage normalisation than beforehand anticipated.

Individually, some traders mentioned they might intently watch the primary high-level in-person contact between Beijing and Washington since U.S. President Joe Biden took workplace. Sino-US relations have been one of many key components influencing Chinese language monetary markets over the previous few years.

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