SHANGHAI, Sept 21 Hong Kong stocks rose on
Wednesday as Asian markets were cheered by the Bank of Japan's
decision to overhaul its policy framework, with investors' focus
now shifting to the U.S. Federal Reserve's meeting later in the
The market has also been bolstered by strong Chinese money
The Hang Seng index rose 0.6 percent to 23,669.90
points, while the China Enterprises Index gained 1.0
percent to 9,849.06.
"There's not much volatility in the China market so
investors who have lost their sense of direction are looking
elsewhere for investment opportunities," said Linus Yip,
strategist at First Shanghai Securities Ltd.
On Wednesday, Chinese investors bought 3.8 billion yuan
($569.60 million) of Hong Kong stocks via the Shanghai-Hong Kong
Connect scheme, sustaining the pace of inflows over the past
The Bank of Japan overhauled its monetary policy framework
earlier int he day, switching to targetting interest rates after
more than three years of massive money printing and bond buying
did little to jolt the economy out of a decades-long funk.
Markets are now watching out for the U.S. Federal Reserve
policy decision and clues on its rate outlook.
Both hawkish and dovish comments from Fed officials recently
have stoked volatility in financial markets, although consensus
is now centred on a U.S. rate hike in December.
All main sectors rose on Wednesday, with energy shares
leading the gains.
($1 = 6.6714 Chinese yuan renminbi)
(Reporting by Samuel Shen and John Ruwitch; Editing by Kim