Market Wrap: Fed QE3 powers HK stocks to more than four-month high

Hong Kong stocks rose to their highest level in just over four months, led by property and commodity-related issues, on speculation that the US Federal Reserve’s potentially unlimited quantitative easing measures will boost asset prices in the region.

The benchmark Hang Seng Index rose 2.9 per cent, or 582.15 points, to end at 20,629.78, the highest level since May 4, 2012. The Hang Seng China Enterprises Index, which tracks Hong Kong-listed Chinese enterprises, gained 3.68 per cent to end at 9,829.43.

via Business feed http://www.scmp.com/business/money/stock-talk/article/1036833/market-wrap-fed-qe3-powers-hk-stocks-more-four-month-high