The broad-based S&P 500 gained 1.1 per cent to 2,937.78, while the tech-rich Nasdaq Composite Index advanced 1.3 per cent to 7,976.88.
Gregori Volokhine, fund manager at Meeschaert Financial Services, said Ms Lam's decision in Hong Kong"removed a big worry" for investors who had feared a muscular response from Beijing to the demonstrations. Markets have factored in the grinding US-China trade war but"a big degradation of the situation in Hong Kong has not been figured in," Mr Volokhine added."Although concerns regarding tariffs and trade policy uncertainty continued, the majority of businesses remained optimistic about the near-term outlook," the central bank said in nationwide survey of economic activity.
Among individual companies, JetBlue Airways slid 4.5 per cent as it lowered a key revenue forecast, due to weaker-than-expected demand and the expected hit to flights from Hurricane Dorian.
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Hong Kong stocks surge after extradition bill withdrawal reportsHong Kong's stock market soared Wednesday after local media reported that the city's embattled leader is planning to fully withdraw a loathed extradition bill, one of the main demands of pro-democracy protesters. The Hang Seng index leapt more than three percent in afternoon trade after the
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Hong Kong: Stocks open slightly higher[HONG KONG] Hong Kong stocks started Wednesday on a positive note after a two-day drop but investors continued to worry about the outlook for China-US trade talks. Read more at The Business Times.
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Hong Kong leader Carrie Lam to formally withdraw extradition bill, says SCMP; stocks soar[HONG KONG] Hong Kong’s embattled leader, Carrie Lam, plans to formally withdraw a controversial bill that would have allowed extraditions to China, the South China Morning Post reported on Wednesday, citing unidentified sources. Read more at The Business Times.
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Hong Kong: Stocks start Tuesday with losses[HONG KONG] Hong Kong stocks slipped in opening trade on Tuesday as investors continued to fret over the China-US trade row after a report said the two sides were struggling to arrange fresh talks. Read more at The Business Times.
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Hong Kong: Stocks end with losses[HONG KONG] Hong Kong shares dropped Tuesday as investors fret over the lack of movement in China-US trade talks, with the two sides still unable to agree a schedule for a planned meeting this month. Read more at The Business Times.
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