Hong Kong, Shanghai stocks rise after U.S. gains

Evolution Mining was the biggest laggard in the sector, down 6.7 percent, while Newcrest Mining declined 2.5 percent. The Shanghai Composite Index now rests just above the 3,155-point plateau, and the market may extend its gains on Tuesday. France’s CAC 40 lost 1.3 percent to 4,486.91 and Germany’s DAX slid 1.7 percent to 9,786.28.


QUOTE-WORTHY: “After the Fed held off on its interest rate hike, the next concern is the economic data in mainland China“, said Linus Yip, chief strategist at First Shanghai Securities.

In Hong Kong the Hang Seng Index dropped 0.75 per cent, or 163.90 points, to close at 21,756.93. The regional gauge tumbled 1.9 per cent Monday.

China National Nuclear Power Co Ltd jumped 5.9 percent, after British finance minister George Osborne said on Monday Britain welcomed the potential for majority Chinese investment in future nuclear projects.

The index futures was launched at the China Financial Futures Exchange (CFFEX) and started trading from April 16, 2010. Most emerging market currencies ended the trading session higher against the dollar on the back of the overall weakness seen in the dollar post the FOMC meeting on Thursday. Caixin’s preliminary index based on a survey of factory purchasing managers will be closely watched for any signs of improvement after sinking to a six-year low in August. Readings remained below 50 since March, indicating contraction.


The USA decision last week not to raise rates immediately only boosted stock markets for a short time. Then a quartet of Fed officials muddied the waters, talking up prospects for higher interest rates in 2015.

A man monitors trading on the electronic screens at the Australian Stock Exchange in Sydney