HK stocks drift higher; China banks hit record peaks
==========

Hong Kong stocks rose 0.8% to 17,569.57 on August 20, 2024; Shanghai Composite index increased 0.49% to 2,893.67; MSCI’s Asia ex-Japan index advanced 0.8%; China’s banking sub-index surged 1.9%, its largest rise in six months; Agriculture Bank of China shares reached record highs; Industrial and Commercial Bank of China rose 2%, marking its ninth consecutive gain; Investors attracted by generous dividends and state-backed ETF inflows; JD Health International Inc gained 7.93% following positive JD.com results; Steven Leung from UOB Kay Hian noted ongoing market concerns about the economy and property market; US Federal Reserve chair Jerome Powell to speak on rate cuts; Shanghai stock index down 2.7% year-to-date.

#HongKong #China #Stocks #Banking #Economy #Investors #MarketTrends #UsFederalReserve #Dividends #Etfs

https://www.brecorder.com/news/40318244/hk-stocks-drift-higher-china-banks-hit-record-peaks