Hong Kong Stocks Down As Most Asian Markets Fall

Hong Kong shares finished the Wednesday morning trade with losses following another retreat on Wall Street as virus cases soar in the US and Europe.

The Hang Seng Index fell 0.2 percent, to 24,727.

On the mainland, the Shanghai Composite Index ticked 0.1 percent higher to 3,256, while the Shenzhen Composite Index was flat, at 2,223.

Tokyo, Seoul, Taipei, Singapore and Manila were in the red.

However, Sydney rose as Australia's second-biggest city Melbourne enjoyed its first day of being open again after a months-long lockdown. Wellington was also up.

Tai Hui at JP Morgan Asset Management said the surge in infections in the US and Europe had been expected in the northern hemisphere winter, adding it "should push investors to take a more defensive position for the time being. In the very short term, the US elections would reinforce this conservative bias".

However, no matter the outcome, the result of the vote next Tuesday "should provide the certainty that investors are constantly looking for". (AFP)

______________________________