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Hang Seng Index rises for fourth straight day, hits roughly one-month high as US rate hike expectations recede
The Hang Seng Index rose for a fourth consecutive session in Hong Kong on the 15th, gaining 340.37 points, or 1.40 percent, to 24,681.10, recovering to its highest level in about a month. Slowing growth in the US Consumer Price Index eased expectations for US interest rate hikes, improving investor sentiment and lifting the market. The H-share Index, which tracks Chinese mainland enterprises, also advanced for a fourth day, adding 81.30 points, or 1.00 percent, to 8,184.38. Among individual stocks, Joinn Laboratories surged 23.8 percent and Qiming Oriental Holdings jumped 35.0 percent, with the biopharmaceutical, logistics, and consumer sectors gaining, while Yanchang Petroleum International fell 10.0 percent, reflecting weakness in the oil sector. China's April-to-June GDP growth came in below market expectations, capping upside, and the Shanghai Composite Index slipped 0.29 percent to 3,955.58, snapping its winning streak.