HSI Ends Morning Session Flat On Profit Taking

Hong Kong stocks finished Friday's morning session barely moved as continued optimism over the easing of lockdown measures was offset by profit-taking following a strong four-day rally.

The Hang Seng Index ended the first session a little over four points, at 24,370.

On the mainland, the Shanghai Composite Index lost 0.3 percent, to 2,911, while the Shenzhen Composite Index slipped 0.3 percent, to 1,846.

Tokyo's Nikkei ended the morning 0.4 percent lower and Sydney dropped 0.3 percent. There were also losses in Manila, Jakarta and Wellington.

Seoul edged up 0.6 percent, Singapore added 0.2 percent and Taipei rose 0.4 percent.

"We had stocks make a miraculous recovery from their March 23 lows and so it makes sense that we're unlikely to see the rally continue at the pace it has," Kristina Hooper at Invesco said.

"We're probably going to see more of a plateauing, more of trading in a range until there's a catalyst that moves them forward."

While buying was not as strong as earlier in the week, hopes remain high that the world economy is on the right track back following mind-boggling stimulus and central bank help, while countries from Asia to Europe to the US ease out of restrictions. (AFP)

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