Hong Kong Stocks Open Higher as Softer U.S. Inflation Lifts Sentiment

MT Newswires Live07-15 09:39

Hong Kong stocks opened higher on Wednesday as softer-than-expected U.S. inflation data boosted investor sentiment.

The Hang Seng Index rose 0.9%, or 210.61 points, to 24,551.34, while the Hang Seng China Enterprises Index gained 0.6%, or 49.81 points, to 8,152.89.

The U.S. dollar weakened after June inflation slowed more than expected, easing expectations of an immediate Federal Reserve rate hike.

Markets remained alert to developments in the Middle East after renewed military exchanges between the United States and Iran pushed oil prices higher, raising concerns that elevated energy costs could keep inflationary pressures in place.

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