Shares of U.S.-listed Chinese tech companies traded mostly higher in Hong Kong on Wednesday, lifting the benchmark Hang Seng Index into positive territory.
Why Is It Moving? The Hang Seng Index was up 0.2% at the time of writing — rising after two straight days of losses — amid optimism about further policy easing by Beijing.
Oil-related stocks such as PetroChina Co. Ltd. (NYSE: PTR) and CNOOC Limited advanced almost 2% each after crude oil prices rose amid worries about Russia-Ukraine tensions.
Nevertheless, investors remained cautious as they looked ahead to the conclusion of the Federal Reserve’s highly anticipated monetary policy meeting later today. While the Fed is likely to leave interest rates unchanged, the accompanying statement could indicate the first rate hike as soon as March.
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What’s Moving: U.S.-listed Chinese tech companies traded mostly higher.
- Baidu Inc. (NASDAQ: BIDU) –