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Hong Kong: Shares fall, in line with others, as oil prices drop

2016 - HONG_KONG-STOCKS.jpg

[HONG KONG] Hong Kong stocks tracked regional markets lower on Monday, with risk appetites reduced by a tumble in crude oil futures after exporters failed to reach agreement on production cuts.

The Hang Seng index fell 0.7 per cent, to 21,161.50, while the China Enterprises Index lost 1.3 per cent, to 9,090.85 points.

Energy shares led main indexes lower, as oil prices fell sharply in response to disappointing results from the weekend meeting.

Some 18 oil exporting nations gathered in Doha, Qatar, in an attempt to agree on stabilising output at January levels until October 2016. The deal fell apart after Saudi Arabia demanded that Iran join in.

REUTERS

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