Hong Kong in News Online & the Economy

Hong Kong Stocks End Lower

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Hong Kong shares finished Friday with a loss as forecast-beating US data and comments from Federal Reserve officials fanned fresh fears over interest rate hikes. online news

The Hang Seng Index lost 0.29 percent, or 53.12 points, to 17,992.54.

The Shanghai Composite Index sank 0.58 percent, or 18.19 points, to 3,097.24, while the Shenzhen Composite Index on China’s second exchange lost 0.48 percent, or 9.89 points, at 2,029.32.


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Tokyo’s Nikkei Index Ends Lower on Profit-Taking

Tokyo’s key Nikkei index gave up earlier gains and ended lower on Friday as investors locked in profit while searching for fresh cues.

The benchmark Nikkei 225 index slipped 0.11 percent, or 30.80 points, to 27,899.77, while the broader Topix index only just remained in the black, inching up 0.04 percent, or 0.75 points, to 1,967.03.

Shares enjoyed a healthy ascent in the morning as investors cheered the gains of the US Semiconductor Sector Index, despite falls in major Wall Street indices.

But lingering concerns over the speed and scale of US rate hikes, which investors fear could trigger a recession, continued to weigh on the market.

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“Worries over US tightening prompted sales among profit-takers, driving down the market,” Daiwa Securities said.

The dollar stood at 139.91 yen in Asian trade, hovering near 140.20 yen in New York on Thursday.

The Japanese government said Friday that core consumer prices rose 3.6 percent year-on-year in October, the highest level in four decades due largely to rising energy costs and a weak yen.

Sony Group trimmed gains and ended higher by 0.22 percent to 11,220 yen. Uniqlo operator Fast Retailing fell 0.12 percent to 82,360 yen.

Nintendo rose 0.70 percent to 5,920 yen. Semiconductor-making equipment manufacturer Tokyo Electron fell 0.98 percent, erasing gains seen in the morning.

But chip-testing equipment maker Advantest added 0.56 percent to 8,990 yen.

Toyota ended down 0.03 percent to 1,993 yen. Nissan managed to keep its gains and ended up 1.96 percent to 498.4 yen.


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