Hong Kong Stocks Slip, Asian Markets Mixed

Hong Kong stocks finished the morning session in negative territory as investors cashed in recent gains ahead of the conclusion of a key Federal Reserve policy meeting later in the day.

The Hang Seng Index slipped 0.6 percent, to 30,622 by the break.

On the mainland, the Shanghai Composite Index declined 0.4 percent, to 3,070, and the Shenzhen Composite Index was down 0.3 percent, to 1,770.

The Nikkei in Tokyo ended the morning session 0.3 percent lower, Sydney rose 0.5 percent and Singapore was 0.7 percent higher.

Wellington and Manila rose but Seoul, Taipei and Jakarta turned negative.

Technology firms won some welcome support after Apple reported a hefty jump in second-quarter earnings and unveiled a new US$100 billion share buyback plan, while boss Tim Cook was optimistic about the outlook.

The news soothed recent worries about the iPhone-maker, which is a major customer for suppliers in the region.

Component-makers were mostly up with Tokyo-listed Alps Electric up three percent, while Foxconn jumped one percent in Taipei. LG Display added 0.6 percent in Seoul.

Among other tech firms AAC Technologies firmed 2.5 percent in Hong Kong and market heavyweight Tencent was up 0.7 percent. (AFP)

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