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Hong Kong stocks snap 4-day losing streak on Wall St support
December 21, 2016 / 8:22 AM / a year ago

Hong Kong stocks snap 4-day losing streak on Wall St support

Dec 21 (Reuters) - Hong Kong stocks broke a four-day losing streak and advanced on Wednesday, thanks to support from the mainland and Wall Street.

The Hang Seng index erased some gains in the morning session and added 0.4 percent to 21,809.80 points at the close, after hitting the lowest in five months in the previous session.

The Hong Kong China Enterprises Index gained 0.5 percent, to 9,331.63 points.

The market got a modicum of support from the mainland, where fears of a liquidity squeeze in China’s banking system subsided after risks from a high-profile bond scandal appeared contained.

Sentiment was also lifted by Wall Street, where the Dow and Nasdaq Composite climbed to record highs on Tuesday, extending a rally fuelled by hopes of stronger economic growth during Donald Trump’s presidency.

Sectors rose across the board in Hong Kong, with service stocks leading the gains, up more than 1 percent at the close. (Reporting by Jackie Cai and John Ruwitch; Editing by Richard Borsuk)

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