Hong Kong Stocks Fail To Break The Fall

Hong Kong shares went into the break on Thursday with slight losses, extending a four-day sell-off, following a negative lead from Wall Street.

The Hang Seng Index shed 0.1 percent, to 29,786 by the break.

On the mainland, the Shanghai Composite Index was down 0.7 per cent at 3,181, while the Shenzhen Composite Index lost over 1 percent, to 1,731.

Seoul dropped 0.2 percent while Singapore dipped 0.2 percent and Jakarta was off 0.5 percent.

However, Tokyo edged up 0.4 percent by the break and Taipei added 0.1 percent. Sydney and Wellington were closed for a public holiday.

While the mood on trading floors remains broadly positive after a blockbuster start to the year, weak economic data around the world offset a forecast-beating earnings season in the US.

"Investors were dealt with another economic reality check as financial data from Europe remains as sick as ever, this despite a chorus of global central banks stimulus," said Stephen Innes at SPI Asset Management.

"The weak EU economy is perhaps raising some doubts as investors spent most of the day in self-analysis mode while taking stock of their stocks." (AFP)

______________________________