Hong Kong Stocks End Flat As Virus Worries Dominate

Hong Kong shares ended flat on Wednesday as concerns about the impact of coronavirus offset hopes for a vaccine, while investors are awaiting a speech by the head of the US Federal Reserve later in the week.

The Hang Seng Index ended just over five points, at 25,491.

On the mainland, the Shanghai Composite Index slipped 1.3 percent, to 3,329 while the Shenzhen Composite Index sank 1.9 percent, to 2,237.

Most markets in Asia slipped as investors fretted about the economic impact of coronavirus amid new outbreaks.

Mumbai and Tokyo were marginally lower, while Singapore, Manila and Jakarta were also in the red. Sydney eased 0.7 percent.'

Seoul, Taipei, Wellington and Bangkok were slightly higher, though.

The closely watched Conference Board index saw a sharp drop in July to a six-year low, with views on future expectations and the present both down after a summer spike in infections across the US Sun Belt, suggesting little chance of improvement any time soon.

"Disappointment over the lack of another fiscal package supporting incomes, still choppy news on the virus and last week's jobless news were not that comforting, either," said National Australia Bank's Ray Attrill.

"This reading puts consumer confidence back to pandemic lows." (AFP)