Hong Kong shares open sharply higher on strong earnings, interest rate cut hopes |
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Published
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Thu, 22 Mar 2007 03:28
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HONG KONG (XFN-ASIA) - Share prices opened sharply higher on expectations of strong results from Cheung Kong and Hutchison Whampoa, combined with prospects of an interest rate cut in the US after the Fed kept the rate unchanged at its last meeting, dealers said.The awaited US Fed statement, issued after the two-day meeting which ended last night, did not refer to the possibility of 'additional firming' of rates as it did in January, which sparked speculation here and on Wall Street, that the central bank may even lower short-term interest rates, they said.The Hang Seng Index opened up 241.32 points or 1.24 pct at 19,757.73.leonora.walet@xfn.comlw/net
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| Stock
Quotes * |
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NASDAQ
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1599.06 |
-53.32 (
-3.29 %)
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| SYMBOL (
2009-01-07 ) |
| LAST |
CHANGE
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3I GROUP
(
11:35am )
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362.50 |
+20.25 (
5.97 %)
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HAMMERSON
(
11:35am )
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613.00 |
+16.50 (
2.75 %)
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| SYMBOL (
2009-01-07 )
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| LAST |
CHANGE
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| SYMBOL (
2009-01-07 )
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| LAST |
CHANGE
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Hong Kong shares open higher as listing, earnings hopes offset rate worries 