Stocks halt two-day losing streak as H shares advance
News that pace of US interest-rate increase will be gradual buoys market sentiment
Chinese stocks climbed in Hong Kong and Shanghai as Apple Inc suppliers rallied after China said it would help manufacturers upgrade their technology and minutes from a Federal Reserve meeting signaled that the pace of US interest-rate increases will be gradual.
The Shanghai Composite Index and Hong Kong's Hang Seng China Enterprises Index both rose 1.4 percent at the close. GoerTek Inc, a supplier to the iPhone maker, surged 10 percent. Energy and financial companies were among the best performers in Hong Kong, with China Petroleum & Chemical Corp and China Construction Bank Corp gaining at least 2.2 percent. The H-shares gauge rose the most in a week and climbed above the 50-day moving average.
