Hong Kong Slips, Profit Taking Hits Asian Markets

Hong Kong shares ended the morning session in negative territory following three days of healthy gains, with traders turning their attention to the release of key US jobs data.

The Hang Seng Index eased 0.3 percent, to 31,507 by the break.

On the mainland, the benchmark Shanghai Composite Index dipped 0.3 percent, to 3,319 while the Shenzhen Composite Index also eased 0.2 percent, to 1,905.

Other Asian markets moved cautiously as trade tensions returned and investors look ahead to the release of crucial US inflation data.

Tokyo was down 0.2 percent, Seoul and Singapore were flat while Sydney slipped 0.7 percent. Wellington and Taipei were both higher.

The US dollar was struggling around the mid-106 yen region as traders turn to safe bets on worries about the political future of Japanese Prime Minister Shinzo Abe and Finance Minister Taro Aso, who have both been sucked into a land deal scandal.

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