Jan 29 Hong Kong shares produced their first
gain in five days, helping benchmark indexes bounce off
five-month lows on Wednesday after a big hike in Turkish
interest rates halted a selloff in emerging markets.
The Hang Seng Index, which closed on Tuesday at its
lowest since end-August, finished up 0.8 percent at 22,141.6
points. The China Enterprises Index of the leading
offshore Chinese listings in Hong Kong rose 1.4 percent.
Turnover sank to the lightest in more than a week as
investors awaited the outcome of a two-day U.S. Federal Reserve
meeting, due early Thursday Asia time.
South Africa could become the third emerging market this
week after Turkey and India to take steps to quell a mix of
inflationary pressures at home and a flight of capital.
Hong Kong markets will be open half a day on Thursday before
shutting for the Lunar New Year. Trading will resume on Tuesday,