Hong Kong Stocks Edge Down, Pound Claws Back

Hong Kong shares ended on Tuesday morning slightly lower as investors took a step back after three days of gains, while the pound fought back against the dollar after taking a hit from the latest twist in Britain's Brexit saga.

The Hang Seng Index dipped 0.3 percent, to 29,334 by the break.

On the mainland, the Shanghai Composite Index slide 0.2 percent to 3,089 and the Shenzhen Composite Index was flat, at 1,685.

Tokyo went into the break down 0.3 percent. Sydney, Singapore and Seoul were flat, while Wellington and Taipei each dipped 0.2 percent.

On currency markets the pound was slowly edging back up against the US dollar after taking a hit from fresh Brexit uncertainty after Prime Minister Theresa May was told she would not be allowed to hold another vote on her exit deal.

"Does it raise or lower the prospect of a no-deal?" asked Neil Wilson, chief market analyst at Markets.com.

"Does it make it more or less likely that an extension to Article 50 will be longer than the short three-months? Tough times trading sterling right now." (AFP)

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