HSI Falls, Hanoi Summit News Adds To The Gloom

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2019-02-28 HKT 17:37

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  • Hong Kong and Shanghai investors were also disheartened by factory data from the mainland. File photo: RTHK

    Hong Kong and Shanghai investors were also disheartened by factory data from the mainland. File photo: RTHK

Hong Kong stocks closed lower on Thursday on tempered optimism over the China-US trade talks and as the nuclear summit between Donald Trump and Kim Jong-un ended abruptly.

The Hang Seng Index in Hong Kong fell 0.4 percent, to 28,633.

On the mainland, the Shanghai Composite Index lost 0.4 percent, to 2,940 but the Shenzhen Composite Index added 0.4 percent, to 1,546.

Regional equities which had been fluctuating through the day took a decisive turn south after an expected lunch and signing ceremony between the US and North Korean leaders was called off at the last minute.

Seoul dived 1.8 percent while in Tokyo, the benchmark Nikkei 225 index slipped 0.8 percent, to close at 21,385.

Singapore shed 0.8 percent while Manila tumbled more than 2 percent and Jakarta was more than 1 percent down while Bangkok slipped 0.4 percent. But there were gains in Sydney and Wellington.

On currency markets the pound held gains after touching a near eight-month high earlier on Thursday after MPs gave Prime Minister Theresa May more time to work on her EU withdrawal deal after she promised they could delay Brexit if necessary.

Sterling was also given a boost after the opposition Labour Party said it would back a second referendum, having lost a vote on its own Brexit plan on Wednesday. (AFP)

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