HSI Falls For Fourth Day In A Row, Shanghai Rises

Hong Kong stocks fell for a fourth day in a row Thursday after the Federal Reserve cut interest rates but investors were left guessing about the possibility of more reductions this year.

The Hang Seng Index slipped 1.1 percent, to 26,468.

On the mainland, the Shanghai Composite Index gained 0.5 percent, to 2,999 while the Shenzhen Composite Index added just over 1 percent, to 1,672.

Tokyo's Nikkei was up more than 1 percent ahead of the announcement but pared the gains in the afternoon to end 0.4 percent higher as the yen rallied against the US dollar.

Sydney and Seoul were each up 0.5 percent, Singapore added 0.1 percent and Wellington gained 0.2 percent. But Taipei, Manila, Mumbai, Bangkok and Jakarta fell.

Oil markets have settled for now – both main contracts were slightly higher on Thursday – after the surge in prices at the start of the week caused by the Saudi blasts.

But traders remain on alert for further developments, including the US and Saudi response, with both putting the blame at Iran's door. (AFP)