Hang Seng Index flat on Thursday, HSBC, Standard Chartered up on rate cut

Hong Kong stocks were muted on Thursday, as an expected interest rate cut in the US failed to impress investors.

The benchmark Hang Seng Index edged down by 10 points to 25,530 points. The market turnover shrank to HK$182.5 billion.

HSBC (0005) and Standard Chartered (2888) rose 2 percent and 1.5 percent, respectively, after the rate cut. But other financial stocks showed mixed performance.

The Hang Seng Tech Index fell 0.83 percent to 5,534 points. Shares of Alibaba (9988) dropped 1.7 percent. 

In the mainland, the Shanghai Stock Exchange Composite Index fell 0.7 percent to 3,873 points while the Shenzhen Stock Exchange Component Index slid 1.7 percent to 13,147 points at the close.