Hong Kong Stocks End Four-Day Slide; Fuyao Glass Industry Rises 8%

MT Newswires Live08-07

Hong Kong Stocks End Four-Day Slide; Fuyao Glass Industry Rises 8% Hong Kong stocks rose on Wednesday, snapping four consecutive sessions of losses, as sentiment improved owing to the end of a global ...

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Fuyao Glass Industry Rises 8% Hong Kong stocks rose on Wednesday, snapping four consecutive sessions of losses, as sentiment improved owing to the end of a global rout.The Hang Seng Index added 1.38%, or 230.52 points, to finish at 16,877.86. The Hang Seng China Enterprises index likewise climbed 1.38%, or 80.56 points, to end at 5,933.17.Investors in the local equities market scooped up bargain shares following four straight days of declines that pulled the benchmark index to three-month lows.The rout in recent sessions was triggered by fears of a US recession and concerns that the US Federal Reserve has waited too long to cut interest rates.Adding to the upbeat sentiment was a 7.2% year-over-year increase in China's July imports, more than double the 3.5% growth predicted by analysts polled by Reuters, and a 7% jump in exports.In corporate news, Hong Kong-listed shares of Fuyao Glass Industry Group (HKG:3606, SHA:600660) closed almost 8% higher after the company reported a 23% rise in first-half profit.Shares of New Oriental Education & Technology (HKG:9901) closed over 6% higher after the company upsized its stock buyback program to $700 million from $400 million.","kind":null,"is_publish_news":false,"is_publish_highlight":false,"is_publish_live":true,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2457894270"}