Hong Kong Stocks Edge Up In Morning Session

Hong Kong shares ended the morning session slightly higher on Friday as traders bide their time ahead of the release of US jobs data later in the day.

The Hang Seng Index gained 0.1 percent, to 28,817 by the break.

On the mainland, the Shanghai Composite Index was flat, at 3,004, though the Shenzhen Composite Index gained 0.1 percent, to 1,592.

Most Asian markets drifted lower as investors were also steeling themselves ahead of an expected Federal Reserve interest rate cut.

Tokyo ending the morning 0.1 percent lower. Singapore, Taipei and Seoul were each 0.1 percent off as well, but Sydney, Wellington, Manila and Jakarta edged up slightly.

Adding to the soft trading environment was the lack of a lead from Wall Street, which was closed for the Independence Day celebrations.

"If there is one thing financial markets hate it's a delicate balance between risk-on and off, suggesting something will give shortly," said Stephen Innes at Vanguard Markets.

"Over the short run, 'risk-on' sentiment should prevail on the back of the deluge on central banks easing. The Fed is critical to the 'risk-on' fever," he said, adding that "now is the time to shift easing policy into high gear". (AFP)

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