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RSS Feeds‘Biden effect` buoys HK stocks to 20-month high
(WorldNews China)


20 january 2021 15:13:00

‘Biden effect` buoys HK stocks to 20-month high
(WorldNews China)

HONG KONG – Mainland cash is buoying Hong Kong stocks this week ahead of the presidential inauguration in the United States, which investors believe will begin a reset “honeymoon” period for China-US relations. The benchmark Hang Seng Index rose 320 points, or 1.08%, to close at 29,962.27 on Wednesday, the highest level in 20 months. The index has increased 10% so far this year from 27,231.13 on December 31, 2020. In mid-January last year, the index once hit 29,000 but fell to as low as 22,805.07 on March 20 due to the Covid-19 pandemic. Hong Kong`s stock markets had been sluggish until it was clear that Joe Biden won the US presidential election, ousting the China-bashing Donald Trump....

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