Hong Kong Stocks Slips Over Fears Of Mass Protests

Hong Kong stocks were slightly lower at the break on Wednesday as investors kept tabs on planned protests in the city that many fear could erupt into the worst violence since last summer.

The Hang Seng Index dipped 0.4 percent, to 23,294.

On the mainland, the Shanghai Composite Index lost 0.5 percent, to 2,845, while the Shenzhen Composite Index slipped 0.2 percent, to 1,785.

Most Asian equities fell as profit-taking and worries about deteriorating China-US relations outweighed optimism over the gradual reopening of economies around the world.

Tokyo ended the first session flat and Seoul was off 0.1 percent, while Singapore dropped 0.5 percent.

Kuala Lumpur dropped more than 1 percent as Malaysia struggles to contain its virus, while there were also losses in Jakarta and Taipei.

However, Sydney and Wellington eked out gains.

Still, National Australia Bank's Tapas Strickland, said in a note: "Risk sentiment continues to surge as activity lifts following the gradual easing of containment restrictions around the world, while vaccine hopes remain high with 10 different vaccines currently at the human trial stage."

He also cited comments from Federal Reserve official James Bullard that the third quarter "very likely, right behind the worst quarter, will be the best quarter of all time on the growth perspective". (AFP)

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