You are here

Hong Kong: Stock rally peters out as energy shares fall

hkstocks170216.jpg

[HONG KONG] Hong Kong stocks lost ground on Wednesday as a two-day solid rally petered out, thanks in part to slumping energy shares that dragged down the market.

The Hang Seng index fell 1.0 per cent, to 18,924.57, while the China Enterprises Index lost 1.2 per cent, to 7,928.76 points.

An index tracking energy stocks tanked 3.2 per cent, as investors, who had bet on a cut in global oil production, gave a lukewarm response to a potential deal between Saudi Arabia and Russia to freeze oil output at January levels.

REUTERS

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom