Upward Trend in Hong Kong Following Xi Signals

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Upward Trend in Hong Kong Following Xi Signals
Photo: Li Xueren/Xinhua via AP/TT

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It was strongly upward for the Hong Kong Stock Exchange's Hang Seng index after a meeting between China's President Xi Jinping and entrepreneurs, where Xi gave his support to private entrepreneurship. It was also upward in Shanghai.

Xi is said to have promised, among other things, to abolish unreasonable fines for private companies and urged entrepreneurs to be on their toes in competition and keep the entrepreneurial spirit alive. After a few hours of trading on Tuesday, the increase was 1.9 percent.

In Shanghai and Shenzhen, the composite indices went in different directions, with Shanghai at plus 0.6 percent and Shenzhen at minus 0.1 percent.

In Tokyo, both the Nikkei 225 index and Topix were up, 0.4 and 0.3 percent, respectively.

In South Korea, the Kospi index was noted at plus 0.6 percent.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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