Hong Kong Shares Fall, Eyes on China and Coming Data

Hong Kong shares fell on Thursday, tracking a slide in China stocks as some investors awaited direction from coming economic data and others remained wary of the mainland market in spite of government support.

The Hang Seng index slid 0.6 percent, to 24,375.28, its lowest close since July 27, while the China Enterprises Index fell 0.3 percent to 11,093.27 points.

Investors were awaiting hints on direction from further Chinese government measures and earnings reports from major companies.

Total trading volume of companies included in the HSI index was 1.0 billion shares.

Source : Reuters

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Asia Stocks Mostly Up After China Data, Eyes on Fed

Asian markets mostly rose Wednesday after data showed China’s economy grew more than expected in the second quarter, although Shanghai and Hong Kong sank on fears the news will likely put off any fresh growth-boosting measures.

Investors are also awaiting testimony later in the day from US Federal Reserve chief Janet Yellen on the bank’s plans for hiking interest rates.

Tokyo stocks edged up 0.38 percent, or 78.00 points, to close at 20,463.33, while Sydney climbed 1.05 percent, or 58.8 points, to close at 5,636.2.

Seoul gained 0.66 percent, or 13.68 points, to end at 2,072.91.

But Shanghai sank 3.03 percent, or 118.78 points, to 3,805.70 and Hong Kong dropped 0.25 percent, or 65.15 points, to end at 25055.76.

China’s National Bureau of Statistics said the world’s number two economy expanded 7.0 percent year on year in April-June, the same as the previous three months and better than the median forecast of 6.9 percent in an AFP survey of 14 economists.

The data follows a slew of disappointing results that have led to a series of measures — including four interest rate cuts since November — to shore up stumbling growth.

Source: AFP

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