Hong Kong Stocks Join Asian Market Retreat

Hong Kong shares sank in Wednesday's morning session, following losses in Europe and on Wall Street as investors fretted over the US-China trade war and its implications for the global economy.

The Hang Seng Index fell 0.4 percent, to 27,280 by the break.

On the mainland, the Shanghai Composite Index was flat, to 2,909, while the Shenzhen Composite Index edged up 0.1 percent, to 1,543.

Other Asian stock markets also sank, as investors grew anxious about a possible economic slowdown and the absence of any progress in resolving the US-China trade war.

Tokyo sank 1.1 percent, while Seoul plunged 1.4 percent while Sydney slipped 0.8 percent and Singapore edged down 0.3 percent.

The losses in Asia came on the back of a retreat in Europe, with investors expressing concern over a spat between the European Commission and Italy over economic austerity.

"Populism is here to stay and will make future integration and budgetary decisions difficult to be agreed upon," said Oanda senior market analyst Edward Moya. (AFP)

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