Stocks rebound ahead of Fed decision
Hong Kong stocks rebounded from a one-month low as investors await the US Federal Reserve’s decision on Wednesday on whether it will cut stimulus, and as the Chinese mainland’s foreign direct investment gained last month. Hutchison Whampoa Ltd, a diversified company controlled by Li Ka-shing, gained 3.3 percent after a person with knowledge of the matter said its retail arm would be valued at more than $20 billion in an initial public offering. The Hang Seng Index gained 0.3 percent to 23,143.82 at the close in Hong Kong after falling to its lowest since Nov 15 on Tuesday. The Hang Seng China Enterprises Index of mainland shares, also known as the H-share index, advanced 0.6 percent to 10,961.54.