Hang Seng Index Snaps Rally, Pound Stays Level

Hong Kong shares finished on Thursday on a low, having swung through the day as upbeat US earnings and a rise on Wall Street was offset by fresh concerns about China-US tensions.

The Hang Seng Index shed 0.5 percent, to end at 26,755.

On the mainland, the Shanghai Composite Index lost 0.4 percent, to close at 2,559, while the Shenzhen Composite Index fell 0.9 percent, to 1,309.

Other Asian markets were mixed despite a positive lead from Wall Street following the better-than-expected round of corporate earnings.

The confidence of investors took a knock on Wednesday from a report that said US officials were carrying out a criminal probe into Chinese tech giant Huawei and could soon indict the firm over allegations of theft of trade secrets from its American business partners.

Tokyo slipped 0.2 percent by the end. Singapore eased 0.4 percent.

But Sydney edged up 0.3 percent and Seoul put on 0.1 percent, while Taipei, Wellington, Manila and Jakarta were also in positive territory.

On currency markets, the pound dipped against the dollar but held most gains with dealers optimistic that Britain will not leave the EU without a deal in place, despite May's exit plan being thrown out by MPs on Tuesday.

The British currency was trading at US$1.2860 and HK$10.10 on Thursday evening. (AFP)