Bloomberg (18/12) -- Hong Kong stocks rebounded from a one-month low as investors await the Federal Reserve’s decision today on whether it will cut stimulus.
The Hang Seng Index gained 0.6 percent to 23,216.62 at the break in Hong Kong after yesterday falling to its lowest since Nov. 15. About four shares climbed today for each that declined on trading volume 16 percent below the 30-day average. The Hang Seng China Enterprises Index, also known as the H-share index, advanced 0.9 percent to 10,991.06.
Futures on the Standard & Poor’s 500 Index rose 0.2 percent after dropping 0.3 percent yesterday. There is about a 60 percent chance the central bank today will announce a reduction in $85 billion of monthly bond buying, according to Mohamed El-Erian, chief executive officer of Pacific Investment Management Co., which oversees about $2 trillion as the world’s largest manager of bond funds
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