Hong Kong shares end up on hopes of Chinese state firm reforms
SHANGHAI Oct 28 (Reuters) - Hong Kong shares rose on Tuesday, underpinned by expectations for a slower pace of U.S. interest rate rises and more reforms at Chinese state-owned enterprises (SOEs).
The Hang Seng Index unofficially closed up 1.6 percent at 23,520.36 points, while the China Enterprises Index of the leading offshore Chinese listings in Hong Kong rose 2.3 percent.
Both indexes chalked up their biggest daily gains since Sept 3.
Analysts said media reports about talks to integrate the mainland's top trainmakers, China CNR and CSR Corp , held out hope for more extensive reforms for the country's other state-owned companies.
Investor sentiment also recovered as the U.S. Federal Reserve is expected to reinforce its willingness to wait a long while before hiking interest rates at a two-day meeting ending on Wednesdsay.
The consumer goods sector was lifted by China's top footwear retailer, Belle International Holdings, which posted solid first-half earnings on Monday. Belle soared more than 10 percent on Tuesday.
(Reporting by Shanghai Newsroom; Editing by Jacqueline Wong & Kim Coghill)
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