Hong Kong shares join regional rally sparked by Fed's remarks
March 19 (Reuters) - Hong Kong shares joined nearly all regional markets in rising on Thursday after the Federal Reserve indicated it won't start raising U.S. interest rates for some time.
The Hang Seng index gained 1.5 percent to 24,468.89, while the China Enterprises Index climbed 1.2 percent, to 12,122.20 points.
Analysts said a delay in a U.S. rate hike benefits Hong Kong stocks. As the Hong Kong dollar is pegged to the U.S. dollar, interest rates in the city tend to follow those set by the Fed.
Among the most actively traded stocks on Hong Kong's main board were Landing International, up 0.6 percent to HK$0.16; China National Culture Group, up 14.2 percent to HK$0.15 and Bank Of China, up 0.5 percent to HK$4.44.
Total trading volume of companies included in the HSI index was 1.6 billion shares. (Reported by Samuel Shen and Pete Sweeney; Editing by Richard Borsuk)
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