Hong Kong equities dropped, reatailers led losses

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Source: Dukascopy Bank SA

Hong Kong equities fell on Wednesday as market participants booked profits ahead of the end of Q3. Weak Asian and US stocks and persistent worries over Eurozone added pressure on the China's blue chips. Sending the Hong Kong shares lower, the POBC stopped speculation over further easing measures, reiterating that it will stick to the prudent monetary policy. The Hang Seng Index lost 0.83% to close at 20,527.73. All sectors included in the index tumbled. The biggest losses witnessed consumer goods and services. Li & Fung, Want Want China Holdings and Esprit Holdings dropped 3.00%, 0.41% and 6.94%, respectively. Esprit Holdings reported disappointing annual results during Chinese afternoon trading hours. Sands China also joined the bearish trend, shedding 0.52%. Lenders traded lower, with Bank of China and Bank of Communications dropping 1.02% and 0.96%.

 

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