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Hong Kong: Stocks open lower after Fed rate cut

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Hong Kong shares opened lower on Thursday, tracking Wall Street losses after the Fed cut rates but expressed a cautious view about future actions.

[HONG KONG] Hong Kong shares opened lower on Thursday, tracking Wall Street losses after the Fed cut rates but expressed a cautious view about future actions.

The Hang Seng Index dropped 0.40 per cent, or 110.92 points, to 27,666.83 in opening trade.

The benchmark Shanghai Composite Index also opened 0.40 per cent, or 11.66 points lower, at 2,920.85.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, lost 0.49 per cent, or 7.77 points, to open at 1,563.53.

AFP

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