Hang Seng Index jumps most in 2 years

This follows the US Federal Reserve’s promise to keep its benchmark interest rate at a record low at least through the middle of 2013.

A Bloomberg report said, “The Hang Seng Index gained 3.6 percent to 20,020.87 as of 10:29 a.m. local time, headed for its steepest gain since July 2009. All but one stock in the 46-member gauge advanced. The Hang Seng China Enterprises Index of Chinese companies listed in Hong Kong jumped 3.6 percent to 10,802.80.”

Danny Yan, Hong Kong-based portfolio manager at Haitong International Asset Management, was quoted as saying, “The Fed’s statement is positive news for the market in the short term, as the Hong Kong market will be flooded with liquidity.”

View the report here.