Hong Kong Stocks Rally In Morning

Hong Kong stocks rally in morning

HONG KONG,(APP - UrduPoint / Pakistan Point News - 1st August, 2016) - Hong Kong stocks rallied Monday morning as weak US growth figures reduced the chances of an interest rate hike before the year's end but Shanghai sank on data indicating China's factory activity contracted in July.

The Hang Seng Index added 1.31 percent, or 287.36 points, to 22,178.73 by the break. But the benchmark Shanghai Composite Index fell 1.25 percent, or 37.10 points, to 2,942.24, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 2.10 percent, or 40.84 points, to 1,900.72.