Hong Kong: Shares dip on sluggish China equities, Fed rate outlook
[HONG KONG] Hong Kong shares ended slightly lower on Tuesday after mainland markets put up a lacklustre performance and as investors were cautious about the increasing possibility of a US interest rate increase in December.
The Hang Seng index fell 0.2 per cent, to 23,565.11, while the China Enterprises Index also lost 0.2 per cent, to 9,837.70 points.
On the day, Chinese investors bought about 1.3 billion yuan of Hong Kong stocks via the Shanghai-Hong Kong Connect scheme.
Services stocks rallied, materials shares rose, as China's efforts to cut capacity caused supply shortages in raw materials, while energy shares corrected following Monday's jump.
Footwear retailer Belle tumbled more than 9 per cent after it reported a 19.7 per cent fall in H1 profit amid a tough retail climate and intensifying online competition.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Singapore stocks end lower after US market wobbles ahead of CPI data; STI down 0.2%
LSEG reports in-line first quarter as Microsoft partnership progresses
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover
South Korea readies new system to detect illegal short-selling
Asia: Markets mixed as global rally stalls, eyes on yen
Singapore shares retreat at Thursday’s open; STI down 1.1%