HSI Ends Flat As Legco Events Spook Investors

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2019-10-16 HKT 09:57

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  • The HSI gave up early momentum after the CE's policy address was disrupted. File photo: RTHK

    The HSI gave up early momentum after the CE's policy address was disrupted. File photo: RTHK

Hong Kong stocks went into the break on Wednesday flat, with earlier gains wiped out after Chief Executive Carrie Lam abandoned her policy address after protests by opposition lawmakers.

The Hang Seng index ended the morning almost flat at 26,505.

On the mainland, Shanghai Composite Index lost 0.3 percent, to 2,982 while the Shenzhen Composite Index was barely moved, at 1,641.

Japan's benchmark Nikkei 225 rose 1.2 percent while Australia's S&P/ASX 200 gained 1.2 percent. South Korea's Kospi added 0.6 percent after the Bank of Korea announced it was cutting its benchmark interest rate by a quarter of a percentage point, to a record-low 1.25 percent.

Shares also rose in Taiwan and most of Southeast Asia. India's Sensex added 0.1 percent.

"Global market sentiment was seen picking up a notch overnight with Wall Street gaining on earnings despite the uncertainty that persists on US-China trade," said Jingyi Pan, market strategist with IG in Singapore.

"Breaking news of China threatening to retaliate if US passes the Hong Kong bill and the IMF's latest downgrading of the global growth forecast appear to be doing little to the trading action so far this morning, but remain items highlighting the uncertainty in outlook." (AP, AFP)

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Last updated: 2019-10-16 HKT 12:56