Hong Kong Shares Fall On Profit Taking

Hong Kong stocks finished Thursday's morning session on a negative note, hit by profit-taking following four days of gains, while investors brushed off a strong lead from Wall Street.

The Hang Seng Index dipped 0.8 percent, to 24,053.

Markets on the mainland were closed for a holiday.

Tokyo and Taipei each climbed 0.9 percent and Sydney put on more than 1 percent, while Seoul and Jakarta were also up.

Wellington jumped 1.6 percent after the New Zealand central bank indicated it could unveil fresh economy-boosting measures. The country's dollar sank 0.4 percent against the US dollar on the news.

Singapore and Manila were each 0.3 percent off.

"The prospect of the Democrats sweeping all three levels of government continues to support stock markets in the run-up to the election day, which would put the Democrats in a position to all but rubberstamp an energetic fiscal stimulus bill while lavishing the country with significant investment in health care, education, and infrastructure," said Axi strategist Stephen Innes.

"The only way traders will shift from this bias is if Trump recovers in the polls."

However, he added that while investors were happy to take the pain of higher taxes and more market regulation for big stimulus, there could be a post-election drop in stocks as they comprehend such policies. (AFP)

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