HSI Edges Up, Pound Falls To Four Month Low

Hong Kong stocks rose on Wednesday, in line with a broad advance across Asia and following a positive lead from Wall Street, though investors remain on edge over tensions between China and the United States.

The Hang Seng Index added 0.2 percent, to 27,705.

On the mainland, the Shanghai Composite Index fell 0.5 percent, to 2,891 and the Shenzhen Composite Index lost 0.5 percent, to 1,540.

Tokyo finished 0.1 percent higher with Sydney, Seoul, Singapore, Mumbai, Manila and Wellington also on the rise. But Taipei turned negative.

Reports that US President Donald Trump is now considering banning Chinese surveillance camera makers from getting access to US components, in a similar move to that against to Huawei, which could further stoke tensions.

After the New York Times story Hangzhou Hikvision Digital Technology dived 5.5 percent and Zhejiang Dahua Technology tumbled almost 6 percent. Bloomberg News said three other surveillance firms were also being considered for action.

The pound sank to fresh four-month lows after British MPs slammed Theresa May's latest plan to pass her Brexit plan.

"Politicians from all sides trashed her proposals, leaving the pound mired at four-month lows while the prime minister awaits her end of days," said Oanda senior market analyst Jeffrey Halley.

"A settlement remains as distant as ever." (AFP)