Hong Kong, Shanghai Markets Slip, Oil Prices Fall

Hong Kong shares were slightly lower after the morning session on Wednesday as investors cashed in following a four-day rally, while awaiting fresh developments in the China-US trade talks.

The Hang Seng index dipped 0.1 percent, to 27,661.

On the mainland, the Shanghai Composite Index lost 0.2 percent, to 2,985 while the Shenzhen Composite Index fell 0.6 percent, to 1,646.

Other Asian markets were tentative as optimism over the China-US trade talks was offset by profit-taking after a recent rally.

Sydney off 0.1 percent, though Tokyo ended the morning up 0.1 percent and Singapore rallied 0.5 percent. Seoul added 0.2 percent and Taipei put on 0.1 percent.

Oil prices, which reached six-week highs on Tuesday on trade and economic hopes, slipped back in Asian business as investors fret over demand after data pointing to a jump in US stockpiles fuelled further demand worries.

Vandana Hari, founder of Vanda Insights, raised a flag over the possible impact on crude if the trade deal does not materialise.

"Some of the optimism over the trade deal that is being baked into oil prices might be a bit premature," she told Bloomberg TV. (AFP)

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