Global Market News

Hong Kong Hang Seng Flat Ahead of Fed Meeting, Tech Sector Solid


Last updated: 04/27/2021 06:18:10

06:18 AM EDT, 04/27/2021 (MT Newswires) -- The Hong Kong Hang Seng Index opened modestly lower, wobbled through trading and finished flat, although investors returned to online shopping and delivery platform Meituan (3690:HK) and the tech sector held solid.

After falling on Monday, Meituan shares rebounded, gaining 2.6% as traders digested likely results of probe of company sales practices by Beijing regulators. The Hang Seng TECH Index rose 0.4% on the day.

The market also awaited results on the US Federal Reserve's policy meeting, slated for a Wednesday release.

The broad gauge Hang Seng slipped 11.29 to 28,941.54, as losing issues outnumbered gainers 32 to 19.

Leading the upside after Meituan were bank HSBC (0005:HK), up 2% after reporting earnings, and then Alibaba Health Information Technology (0241:HK), up 1.9%.

On the downside were Wuxi Biologics (2269:HK), off 6%, and then Budweiser Brewing APAC (1876:HK), off 1.8%.

On the mainland, the Shanghai Composite also finished flat, at 3,442.61.
Copyright © 2021 MT Newswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

Quotes displayed with 15 minutes delay. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. News provided by MT Newswires, a Division of MidnightTrader, Inc. Events Data provided by Wall Street Horizon. ©2021 Wall Street Horizon, Inc.