iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Hong Kong: Market surges on cooler US inflation data, China eases Covid measures

11 Nov 2022 , 02:51 PM

Hong Kong share market finished session sharply higher on Friday, 11 November 2022, recouping losses in the previous three sessions, amid bottom fishing across the board on tracking an overnight surge on Wall Street on spurring hopes that the Federal Reserve might scale down the size of its future interest rate increases after cooler-than-expected U.S. inflation data in October. Also, boosting market sentiments was reports stated Chinese health authorities eased some of the COVID-19 curbs, including shortening quarantine times for close contacts of cases and inbound travelers. At closing bell, the benchmark Hang Seng Index spurted 1,244.62 points, or 7.74%, to 17,325.66. The Hang Seng China Enterprises Index surged 450.18 points, or 8.31%, to 5,867.31. Overnight on Wall Street, U.S. stocks jumped as consumer prices rose less than expected in October, pushing the annual increase below 8% for the first time in eight months, the strongest signs yet that inflation was slowing. Chinese state media announced on Friday that the country will reduce quarantine time for international travelers by two days. The revised rules state travelers will be required to stay at a quarantine facility for five days, shorter than the previous period of seven days, with a three day period of home observation. Back to home, travel-related stocks jumped after reports that Beijing easing of its stringent Covid measures. Shares of Cathay Pacific jumped almost 3%, Air China rose more than 2%, China Eastern Airlines rose 6% shortly after the announcement. China Southern Airlines also gained more than 3%. Casino operators MGM China rose 8.4%, Wynn Macao rose 8.1%, Sands China jumped more than 11%, and Galaxy Entertainment rose 7.6%. Powered by Capital Market – Live News

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.