Hong Kong shares moved lower, Want Want China added pressure

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Source: Dukascopy Bank SA
Hong Kong shares edged down on Wednesday amid increased cautiousness in the markets ahead of the Jackson Hole Symposium due on Friday. Market participants continued to await Ben Bernanke's speech at the symposium as his comments may indicate further actions of the Fed. At the same time, positive data from the US property market supported Hong Kong shares. The Hang Seng Index inched down by 0.12% to close at 19,788.51. Only three sectors included in the index advanced. The top-performers were consumer services and industrials. Sands China extended previous gains on a 23.7% annual increase in turnover during six months ended June 30. Among industrial firms, Hutchison Whampoa rose by 0.39%. Meanwhile, China Life was among the top five gainers, adding 1.97% after reports that the company's H1 net profit dropped less than expected. Sending US stocks lower, Want Want China tumbled 4.53% despite posting upbeat first half results.

 

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