Hang Seng, Shanghai sink

Business | 9 Nov 2018 4:01 pm

Hong Kong and China stocks retreated today along with regional markets after the Federal Reserve indicated more rate increases to come at a gradual pace.

In Hong Kong, the blue chip Hang Seng Index sank by 2.41 percent, or 632.92 points at 25,594.80 at the close.

Shares in Tencent Holdings (0700) dived by 5.04 percent at HK$ 278.80.

In mainland China, the Shanghai Stock Exchange Composite Index gave up 1.39 percent, or 36.76 points at 2,598.87.

The Shenzhen Stock Exchange Composite Index shed 0.43 percent, or 5.79 points at 1,328.19.

The MSCI Asia Pacific Index fell by 1.1 percent.

In Tokyo, the benchmark Nikkei index shed

than 1 percent at the close. The Nikkei 225 average fell by 1.05 percent or 236.67 points to 22,250.25, Over the week, it edged up 0.03 percent in volatile trade. The broader Topix index was down by 0.49 percent or 8.27 points at 1,672.98, but gained 0.85 percent from a week earlier.

In South Korea, stocks opened higher, before falling back. The benchmark Korea Composite Stock Price Index lost 8.78 points, or 0.42 percent, to 2,083.85 as of 11:20 a.m local time.

The Taiwan Stock Exchange's main index opened down by 23.53 points at 9,921.78 Friday on turnover of NT$1.17 billion (US$38.05 million).

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