HK Stocks Slips After Four-day Rally, Gold Surges

Hong Kong shares ended the morning slightly lower on Friday as investors took a step back after a four-day rally, while attention turns to next week's planned meeting between Donald Trump and Xi Jinping.

The Hang Seng Index dipped 0.3 percent, to 28,476 by the break.

On the mainland, the Shanghai Composite Index gained 0.6 percent, to 3,005 while the Shenzhen Composite Index soared 1.5 percent, to 1,580.

Gold prices meanwhile broke US$1,400 an ounce to hit a near six-year high on Friday as the weaker US dollar, economic concerns and geopolitical tensions saw investors pile into the safe-haven commodity.

Demand surged after the Federal Reserve on Wednesday indicated it would likely cut interest rates soon – for the first time in a decade – which sent the greenback tumbling across the board and making it cheaper to buy the yellow metal. (AFP)

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