Markets rise with Wall St on rate hopes

By Agence France-Presse

Oct 27, 2022 12:10 am

HONG KONG: Stocks advanced on Wednesday to build on another strong performance in New York following more healthy earnings from big-name firms, while hopes for a slowdown in Federal Reserve (Fed) rate hikes spread cheer.

Hong Kong and Shanghai enjoyed a much-needed boost after the People's Bank of China (PBoC) and foreign exchange officials pledged support for the East Asian country's equities, bonds and yuan, helping investors bounce back from Monday's rout.

A currency trader walks near screens at a foreign exchange dealing room in South Korea’s capital Seoul on Wednesday, Oct. 26, 2022. AP PHOTO

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