InfoAnda - Hong Kong stock market rises on US stimulus hopes

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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Hong Kong stock market rises on US stimulus hopes AP - Tuesday, January 20 HONG KONG - Hong Kong shares climbed Monday amid hopes a massive stimulus plan will boost the U.S. economy, but expectations of dour fourth quarter earnings capped gains. Hong Kong's Hang Seng recovered early losses to add 84.48 points, or more than 0.6 percent, to 13,339.99. Sentiment has been supported in recent days by hopes that the new U.S. administration under President-elect Barack Obama, who takes office Tuesday, will act to revive the economy. The optimism could quickly fade amid a litany of dismal earnings results, said Castor Pang, an analyst at Sun Hung Kai Financial. "Most investors fear the U.S. markets will continue to tumble. Once Obama's inauguration is out of the way, companies will release fourth quarter results and they are expected to be very poor," Pang said. Dragging on the broader market was heavy selling in HSBC amid worries about the company's outlook. Shares of the heavyweight European lender dropped 3 percent to 62.3 Hong Kong dollars. ____ On the Net: Stock Exchange of Hong Kong: http://www.hkex.com.hk Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Png An Insurance posts $18.9 bln premium incomeReuters - 1 hour 36 minutes ago BYD to issue $585 mln notes for operational needsReuters - Tuesday, January 20 KeyCorp shares could rise sharply: reportReuters - Tuesday, January 20 Hong Kong stock market rises on US stimulus hopesAP - Tuesday, January 20 Related Articles: Business US-BUSINESS SummaryReuters - 25 minutes ago Oil falls towards $34 on gas deal and Gaza ceasefireReuters - 25 minutes ago T-Mobile to offer G1 in more European countriesReuters - 26 minutes ago EU: recession will be deep and long-lastingAP - 30 minutes ago Britain announces 2nd banking rescue planAP - 36 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed 'Overwhelming emotion' at star-studded inaugural concert Zimbabwe unveils $100 trillion banknote 'Dogs don't wear condoms,' says Baywatch star Anderson Faulty gene condemns millions in India to heart disease: study Hamas announces one-week truce after Israel ceasefire View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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