August 30, 2016 / 8:32 AM / in 2 years

Hong Kong shares end up as U.S. rate hike views ease

SHANGHAI, Aug 30 (Reuters) - Hong Kong shares bounced on Tuesday amid doubts the Federal Reserve would raise interest rates as soon as September.

The Hang Seng index rose 0.9 percent, to 23,016.11, while the China Enterprises Index gained 1.1 percent, to 9,597.25 points.

Fed Chair Janet Yellen on Friday said the case for a rate increase was strengthening, but provided little detail on when the Fed would next move, keeping investors guessing if the rate increase would really happen next month.

Most sectors in Hong Kong rose, with material stocks leading the rise.

China Southern Airlines’ Hong Kong-traded stock slumped over 6 percent, after the carrier reported an 11 percent drop in first-half profit. (Reporting by the Shanghai Newsroom; Editing by Jacqueline Wong)

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