HK shares advance despite falling Chinese equities

Source: Dukascopy Bank SA
© scanpix/reuters
Chinese shares edged lower compared to the previous session with weaker mainland markets capping the Hong Kong's gains on investors being cautious prior to last meeting of the U.S. Federal Reserve this year. It is awaited that the Fed will decide on buying $45 billion per month of longer-dated Treasuries to replace the Operation Twist program] at the beginning of January.

The Hang Seng index inched higher 0.21% to 22,323.94. Five out of ten sectors advanced within the index with Technology, Utilities and Industrials advancing the most, up 0.64%, 0.45% and 0.40%, respectively. Meanwhile, Telecommunications shrank the most by losing 0.51%, followed by Consumer services with a 0.20% decline. Citic Pacific, AIA and China RES power were among the top performers by soaring 3.92%, 2.84% and 2.56%, subsequently, whereas China RES Land lost the most by inching 3% lower, while Cosco Pacific shares showed second biggest losses of 2.6%.


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