HONG KONG, March 16 (Reuters) - Hong Kong financial and
property shares climbed on Thursday after the central bank
raised the base rate charged through its overnight discount
window by 25 basis points to 1.25 percent, tracking a hike by
the U.S. Federal Reserve.
The property sub-index spiked 1.8 percent, while the
financials sub-index rose 1.3 percent in opening trades.
Hong Kong's benchmark index was set to open up 1.3
Hong Kong tracks U.S. rate moves as its currency is pegged
to the U.S. dollar and including reinvested dividends, the
broader Hong Kong stock market has outperformed a
sub-index of property and finance companies
since the last U.S. rate increase in December.
(Reporting By Donny Kwok and Saikat Chatterjee; Editing by