Hang Seng opens higher after Powell testimony
The Hang Seng Index rose just over 90 points, or about 0.5 percent, at the opening on Wednesday to trade at around 17,613. On Tuesday, Federal Reserve Chair Jerome Powell told Congress that the US is "no longer an overheated economy," remarks that suggested the case for rate cuts is strengthening. Some investors had anticipated the Fed chair, in his testimony to a Senate banking panel, might do more than he did to telegraph that a cut was on track for the central bank's September meeting. On the mainland, the Shanghai Composite Index opened down 0.35 percent at 2,949. The Component Index in Shenzhen also opened lower, falling 0.39 percent to 8,672 points in early trading. (with additional reporting from Reuters and Xinhua)