Hong Kong Stocks Join Asian Market Retreat

Hong Kong stocks ended lower on Friday morning as US political turmoil over the impeachment inquiry into President Donald Trump weighed on sentiment.

The Hang Seng index fell 0.3 percent, to 25,963 by the lunch break.

On the mainland, the Shanghai Composite Index was down 0.1 percent, to 2,928 while the Shenzhen Composite Index gained 0.7 percent, to 1,610.

Asian markets fell following declines on Wall Street linked to the political turmoil in Washington.

Tokyo was down 1.2 percent as many shares went ex-dividend and Seoul was 1.1 percent lower. Singapore, Malaysia and Taiwan also retreated while Sydney was up 0.4 percent, one of the few markets seeing gains.

"The market isn't clear on what to make of the latest impeachment developments in the US, and this continues to increase uncertainly and could be weighing on investor sentiment," Stephen Innes, Asia Pacific market strategist at AxiTrader, said in a note.

"Compounding this uncertainty is the stark reality that most of the global economy is moving in reverse while omnipresent geopolitical unease ensures the market remains in a constant wobble on a forever shifting trade war axis." (AFP)

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