Global Market News

Hong Kong Hang Seng Off 0.61%, Shanghai Up 0.39% Ahead of Sino-US Trade Talks


Last updated: 10/09/2019 06:21:17

06:21 AM EDT, 10/09/2019 (MT Newswires) -- The Hong Kong Hang Seng Index opened lower after overnight Wall Street declines and finished down 0.81%. In addition to recurrent pro-democracy street demonstrations in Hong Kong, investors eyed the strained outlook for Sino-US trade talks starting Thursday in Washington after the Trump Administration on Monday imposed fresh sanctions on 28 China organizations, including tech companies, for human-rights violations of Uighurs and others in western China. The US also banned travel by Chinese officials tied to Muslim abuses.

The broad gauge Hang Seng fell 210.59 to 25,682.51, as losing issues outnumbered gainers 36 to 12.

Leading the upside on a down day were China Resources Land (1109:HK), up 2.4%, followed by port-developer CK Hutchinson (1:HK), up 0.8%, and then confectioner Want Want China (151:HK), up 0.7%.

On the downside were smartphone-components maker Sunny Optical Technology (2382:HK), off 3.5%, and then Hang Seng Bank (11:HK), off 3.3%.

On the mainland, the Shanghai Composite rose 0.39%.

In economic news, an unidentified Chinese official Wednesday said Beijing is open to partial trade deal this week, as long as the Trump Administration does not impose additional import tariffs on Sino goods, reported Bloomberg. In return, China could offer to buy more US agricultural products.
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