Hong Kong stocks snap three-day decline on hopes for Fed rate cut; Wharf, SHK rally

The Hang Seng Index rose 0.2 per cent to 17,485.68 as of 10.07am local time. The benchmark was down 3 per cent over the past three days. The Hang Seng Tech Index dropped 0.1 per cent and the Shanghai Composite Index was little changed.

New job openings in the US fell short of consensus estimates in July and hit their lowest level since 2021, triggering a slide in the yield on two-year Treasury notes. A report on US payrolls is due on Friday, which will offer more clues on how the Fed will react to the job market data at its policy meeting.