Hong Kong, Shanghai Stocks Edge Down
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2019-03-07 HKT 10:08
Hong Kong shares fell on Thursday morning as a recent rally ran out of steam and following a negative lead from Wall Street.
The Hang Seng Index eased 0.5 percent, to 28,904 by the break.
The benchmark Shanghai Composite Index edged up 0.2 percent, to 3,103 and the Shenzhen Composite Index dipped 0.2 percent, to 1,656.
Tokyo ended the morning 0.7 percent lower while Hong Kong dipped 0.2 percent. But Sydney put on 0.3 percent, Singapore added 0.2 percent and Wellington rose 0.1 percent.
Observers said a surge in the US trade deficit could also spur Donald Trump to ratchet up his protectionist agenda, even as he zeroes in on an agreement with China.
"Whether this hardens the president's attitude [for a deal in] the China trade talks or he chooses a quick win is hard to say," said Jeffrey Halley, senior market analyst at Oanda.
"But with an election to fight next year, you can almost hear the clanking as the White House swings its heavy artillery in the direction of the other perceived trading bloc culprits."
Halley suggested the tycoon will turn his focus on Japan – with whom talks are ongoing – and the European Union.
"One thing is for sure, long after the US-China trade deal is put to bed, we will not have heard the last of the word tariff in 2019," he added. (AFP)
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Last updated: 2019-03-07 HKT 13:29
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