Hong Kong, Shanghai Stocks Lose Early Gains

Hong Kong stocks went into the break with more losses on Friday as traders failed to maintain early gains, with worries over spiking virus infections and a lack of movement in US stimulus talks denting buying sentiment.

The Hang Seng Index fell 0.2 percent, to 23,262.

On the mainland, the Shanghai Composite Index lost over 0.2 percent, to 3,215, while the Shenzhen Composite Index gave up early gains and was down 0.1 percent, to 2,146.

Some Asian markets rose on bargain-buying after another torrid week for investors, who are growing increasingly concerned about US lawmakers' failure to even hold talks on a new stimulus.

Tokyo, Seoul and Singapore enjoyed healthy gains, while Sydney jumped more than 1 percent. There were also gains in Manila and Jakarta.

Aneta Markowska, at Jefferies LLC in New York, said it was "a close call" on whether a new stimulus would be agreed, adding: "While still possible, there is a high risk that it does not happen this year. Without it, we would expect the economy to hit a major speed bump in the fourth quarter." (AFP)

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