Daily Report | Hong Kong stocks nudge lower in thinner trade before Easter
Geopolitical worries weigh on markets as tensions rise on the Korean peninsula
Hong Kong stocks finished slightly weaker on Monday, posting a third straight day of losses, as investors remained wary of making big bets before the Easter holidays later this week.
Meanwhile, geopolitical worries weighed on markets after the US deployed a naval strike group near the Korean peninsula, a move analysts say might provoke Pyongyang.
The Hang Seng Index bounced between gains and losses during the day, before closing down 5.12 points, less than 0.1 per cent, at 24,262.18. It marked a third straight session of losses.
The Hang Seng China Enterprises Index, known as the H-shares index, also edged lower, by 0.2 per cent, or 20.01 points, to end at 10,253.79.
Turnover dropped sharply to HK$65 billion, down 27 per cent from Friday’s HK$88.8 billion.
“The thin trading volumes indicated that investors were sitting on the sidelines, because the Easter holidays are approaching,” said Victor Au, chief operating officer at Delta Asia Securities.