Asia
Hong Kong Stocks Edge Higher on Thursday as Investors Weigh Fed, China Policy Signals; China National Culture Jumps
Hong Kong stocks closed slightly higher on Thursday as investors assessed the U.S. Federal Reserve's policy outlook and fresh signals of economic support from China.The Hang Seng Index gained 50.96 points, or 0.2%, to close at 25,858.88, while the Hang Seng China Enterprises Index rose 21.19 points, or 0.3%, to 8,644.71.The Federal Reserve left interest rates unchanged on Wednesday, though a split decision among policymakers left investors uncertain about the path of future rate moves.Meanwhile, China pledged to accelerate fiscal spending and introduce additional measures to support growth after the economy expanded 4.3% in the second quarter, its slowest pace in more than three years.Investors also continued to monitor earnings from major technology companies for clues on AI-related spending.Among individual stocks, China National Culture Group (HKG:0745) surged more than 10% a day after agreeing with Bingo (HKG:0822) to establish a joint venture focused on AI infrastructure for the digital entertainment industry.Hing Yip (HKG:0132) slipped nearly 2% after its subsidiary entered into finance lease agreements worth 65 million yuan with Dingxing Longyuan Heating.
Hang SengHKG:0132HKG:0745
