Hang Seng Index Rises 0.3% for Week
Hang Seng Index Rises 0.3% for Week
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Hang Seng Index Rises 0.3% for Week
The Hang Seng Index rose about 2.2%, or 541 points, to open at 25,751 on Friday, rebounding from prior session losses. Gains were supported by a global tech rally and reduced expectations for a September Fed rate hike.
The ISM services PMI surged to 55.4 in August from 54.1 previously, above the 54.3 market estimate and its strongest pace in six months.
The U.S. Personal Consumption Expenditures price index rose 3.7% year over year in July versus economist forecasts of 3.6%, while the monthly measure increased 0.2% and core PCE was unchanged at 3.3%.
***General Trend and Developments*** -The Japanese Yen remains slightly offered amid quarter-end and Gotobi. Sato ’s comments are now keenly awaited, especially ahead of the next BOJ decision [Jul 31st]. However, Japan 2-year bond traders seem unfazed given the stronger demand at auction -The PBOC continued to use its