Hong Kong Stocks Down At Lunch

Hong Kong stocks fell in the morning session on Friday as investors across Asia took a step back after six days of gains fuelled by optimism over the China-US trade talks.

The Hang Seng index slipped 0.4 percent, or 121 points, to 27,726.

There were also losses in Taipei, Seoul, Singapore and Sydney.

News out of Beijing that it had agreed a plan with the US to start rolling back tariffs if negotiations progress fired a rally in late business on Thursday, and helped the Dow and S&P 500 to more records.

But dealers were unable to carry the baton further in Asia after the White House failed to comment on Beijing’s claims, while a report said there was some opposition within the administration to such a move.

Adding to the malaise was a certain amount of profit-taking after another strong week across equity markets, which have been on a rally since last month as the trade talks showed progress.

But Shanghai was up 0.2 percent, and Tokyo also edged up slightly. (AFP)