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HSBC, Alibaba, BYD power Hong Kong stocks to best gain since March as markets temper US rate-hike bets
🕑 Added 2022-10-07 00:37:44 +0000 UTCStocks caught up with overnight gains in global markets as traders pared US rate-hike bets for 2023 following a weak manufacturing report
Alibaba, HSBC and BYD paced rally as the Hang Seng Index clawed its way up from the lowest level since October 2011
Jiaxing Li
Published: 10:41am, 5 Oct, 2022
“The market has slumped sharply in the past few weeks, so the weakening US dollar and potentially [slower] rate hikes have remarkably lifted the mood,” said Dickie Wong, executive director at Kingston Securities.
