HK Stocks Edge Up, But Most Asian Markets Fall

Shares rose in the morning session in Hong Kong on Monday but traders are moving cautiously ahead of a key US Federal Reserve policy meeting this week.

The Hang Seng Index gained 0.2 percent, to 31,562 by the break. But CK Hutchison Holdings was down more than one percent after the city's richest person and investment "Superman" Li Ka-shing said on Friday he would step down as chairman.

On the mainland, the Shanghai Composite Index edged up 0.2 percent, to 3,275 and the Shenzhen Composite Index gained 0.7 percent, to 1,875.

Tokyo led losses across most Asian markets as Japanese Prime Minister Shinzo Abe's political future hangs in the balance over a cronyism scandal. The Nikkei ended the morning session 0.9 percent lower.

Elsewhere Sydney added 0.3 percent, but Singapore fell 0.1 percent, Seoul dropped 0.3 percent and Manila lost 0.7 percent. There were also losses in Jakarta and Wellington. (AFP)

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