Hong Kong stocks close higher

• Hong Kong shares closed higher on Wednesday
• Bargain hunters came in after a bruising sell-off at the start of the week.
• The Federal Reserve’s interest rate decision later in the day also drew attention.

Stocks closed higher in Hong Kong on Wednesday as bargain hunters came in after a bruising sell-off at the start of the week, with the Federal Reserve’s interest rate decision later in the day drawing attention.

The Hang Seng Index increased by 1.14 percent, or 240.22 points, to 21,308.21.

Read More: Hong Kong stocks finish sharply higher

The Shanghai Composite Index rose 0.50 percent, or 16.50 points, to 3,305.41, while the Shenzhen Composite Index rose 0.47 percent, or 9.88 points, to 2,098.99 on China’s second market.

Previously On Honk Kong Stocks

Hong Kong stocks fell on Monday, joining a global sell-off, as a forecast-beating increase in US inflation fueled concerns about an aggressive Federal Reserve rate hike campaign.

To 21,067.58, the Hang Seng Index fell 3.39 percent or 738.60 points.

Read More: Hong Kong stocks close sharply lower