HSI Slips As Investors Await Key Fed Meeting

Hong Kong stocks went into the break on a negative note on Wednesday as investors bide their time ahead of a key Federal Reserve policy decision later in the day.

The Hang Seng index eased 0.3 percent, to 26,717.

On the mainland, the Shanghai Composite Index fell 0.4 percent, to 2,941 and the Shenzhen Composite Index shed 1 percent, to 1,627.

Asian markets slipped as traders play a wait-and-see game ahead of the Federal Reserve's latest policy decision.

Sydney dropped 0.7 percent and Tokyo went into the break 0.4 percent lower. Seoul, Taipei, Jakarta and Manila were also weaker though Singapore and Wellington edged up.

Sterling was flat but supported by relief that Britain is unlikely to leave the European Union without a deal. Prime Minister Boris Johnson is optimistic his Conservatives will get a clear majority in the vote – tipped to be December 12 – that will allow him to push his Brexit agreement through parliament

"The market seems to be making assumptions about the outcome of the UK general election," said AxiTrader's Stephen Innes.

"Indeed, all the polls point to a solid victory for Boris Johnson, but we have been down this road before, and history should remind us that when it comes to UK elections, strange things can happen." (AFP)

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