Hong Kong stocks posted four-session gains and fell on Wednesday as investors feared a slowdown in the US economy and troubles at the country’s regional banks could slow growth in Asia.
The Hang Seng Index closed down 1.18%, while the Hang Seng China Enterprises Index fell 1.36%.
Asian stocks fell for the second consecutive session as global investors faced signs of a slowdown in the US economy ahead of an interest rate hike widely expected by the Federal Reserve on Wednesday.
The International Monetary Fund (IMF) raised its forecast for the Asian economy on Tuesday, with China’s recovery supporting growth, but warned of risks stemming from global market volatility driven by problems in the Western banking sector.
. In TOKYO, the Nikkei index remained closed.
. In HONG KONG, the HANG SENG index fell by 1.18% to 19,699 points.
. In SHANGHAI, the SSEC index did not open.
. The CSI300 index, which brings together the major companies listed in SHANGHAI and SHENZHEN, was not operative.
. In SEOUL, the KOSPI index lost 0.91% to 2,501 points.
. In TAIWAN, the TAIEX index fell 0.53% to 15,553 points.
. In SINGAPORE, the STRAITS TIMES index lost 0.61% to 3,262 points.
. In SYDNEY, the S&P/ASX 200 index fell 0.96% to 7,197 points.
Source: Terra
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