Hong Kong shares finish higher on Fed relief
HONG KONG, July 10 (Reuters) - Hong Kong shares ended slightly higher on Thursday after the Federal Reserve indicated it was in no rush to end quantitative easing and begin raising U.S. interest rates, although gains were trimmed after Chinese export data came in weaker than expected.
The Hang Seng Index edged up 0.3 percent to 23,238.99. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong was also 0.3 percent higher.
Hong Kong property developers recouped most of their losses from Wednesday as low global interest rates are a key support for their share prices and property prices in the territory.
Cheung Kong Holdings gained 2 percent and New World Development 1.1 percent.
Bank of China (BOC) was a drag on the index. It lost 0.9 percent, hurt by a state TV report alleging some branches had helped clients launder money to take out of China. BOC denied this, saying the branches were involved in a legitimate programme to move capital offshore.
Hong Kong shares of Fast Retailing climbed 1.4 percent after the operator of the Uniqlo casualwear brand posted a 9.9 percent rise in operating profit in the nine months through May. (Reporting by Grace Li; Editing by Alan Raybould)
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