Hong Kong: Shares fall as Japan tumble sours sentiment
[HONG KONG] Hong Kong shares dropped over 1 per cent on Friday as sentiment was soured by a tumble in Japanese stocks, after the Bank of Japan disappointed markets by electing not to expand monetary stimulus on Thursday.
The Hang Seng index fell 1.5 per cent, to 21,067.05, while the China Enterprises Index lost 1.3 per cent, to 8,939.47 points.
Hang Seng was down 1.9 per cent for the week, but rose 1.4 per cent in April.
Stocks fell across the board.
Banking stocks sagged after Chinese lenders posted flat profit growth amid rising bad debt.
Industrial and Commercial Bank of China Ltd (ICBC) , China's biggest lender, fell 1.6 per cent.
REUTERS
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
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Vietnam delays launch of new stock trading system
Hong Kong bourse regains favour on hopes of a market revival
Asia: Markets rise as strong US tech earnings offset poor data
Singapore shares open lower on Friday; STI down 0.1%
Stocks to watch: CLI, Great Eastern, MIT, Sheng Siong, iFast, OUE, Far East Orchard