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Wednesday, June 29, 2016, 16:37

Shares break 3-day losing streak

By Reuters

Hong Kong stocks tracked global markets higher on Wednesday, breaking a three-day losing streak, as panic triggered by the Brexit vote slowly eased.

The Hang Seng index rose 1.3 percent, to 20,436.12 points, while the China Enterprises Index gained 0.4 percent to 8,571.44.

Market sentiment was bolstered by rebounds in Europe and on Wall Street as investors start bargain hunting in the wake of heavy selling after Britain's vote to leave the European Union late last week.

Nearly all sectors rose, with IT and energy shares leading the gain.

But the Hong Kong-listed shares of China Vanke fell 2.1 percent to 1-1/2 year lows as a power struggle between the developer's management and major shareholders continued to dent investor confidence.

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