Business
11:47, 28-Aug-2017
HK stocks breach 28,000 for first time since 2015
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Hong Kong stocks broke above 28,000 points on Monday for the first time in over two years, as US Federal Reserve chairman Janet Yellen decided not to comment on US monetary policy at the world central bankers' annual meeting in Jackson Hole on Friday, revealing the US is unlikely to raise interest rates in December.
The Hang Seng Index peaked at 28,071.59 points during morning trade, the highest level since May 28, 2015, before settling as the day progressed. The Hang Seng China Enterprises Index increased 1.17 percent, or 131.65 points, to 11,420.01 by 11:00 a.m. local time.
The Shanghai Composite Index added 0.96 percent, or 32.10 points, to 3,363.62 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, gained 1.55 percent, or 164.89 points, to 10,823.90.
On Friday, the Dow Jones Industrial Average closed 0.1 percent higher at 21,813.67 points and the S&P 500 tacked on 0.2 percent to 2,443.05. However, the Nasdaq Composite slipped 0.1 percent at 6,265.65.
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