Asian markets up; what about A shares?
The Hong Kong stock market rose on Wednesday led by the gains of mainland financial and energy companies, showing improved investor sentiment after the wild swings triggered by sharp market falls in the United States earlier this month.
The Hang Seng Index gained 1.8 percent while the Hang Seng China Enterprises Index, which tracks large-cap mainland companies, rose 2.3 percent. Agricultural Bank of China surged 4.2 percent and China Petroleum & Chemical Corp was up 3.7 percent at the close.
The rally of the Hong Kong market as well as the Japanese and South Korean equities on Wednesday indicated an improved investor mood in Asia after the sharp corrections of US equities prompted substantial global selling.
Investors are closely watching how the Shanghai and Shenzhen markets on the Chinese mainland will perform in the first trading day of the Year of the Dog as the mainland markets will resume trading on Thursday after the week-long Lunar New Year holiday.