Hong Kong shares slip for second day ahead of Fed decision

PUBLISHED : Wednesday, 18 September, 2013, 4:22pm
UPDATED : Wednesday, 18 September, 2013, 7:31pm

Hong Kong shares slipped for a second-straight session in light volume on Wednesday as investors stayed away ahead of an expected paring of stimulus by the US Federal Reserve later in the day.

The Hang Seng Index - which ended on Monday at its highest since May 22 - slipped 0.3 per cent to 23,117.5 points. The China Enterprises Index of the top Chinese listings in Hong Kong shed 0.6 per cent.

Bourse turnover was at its weakest in three weeks at US$6.5 billion (HK$50.4 billion), some 14 per cent below its 20-day moving average.

The Fed is expected to release its decision at about 1800 GMT. The Federal Open Market Committee (FOMC) is expected to be measured in any cuts to its US$85 billion (HK$659.1 billion) in monthly asset buying, while also seeking to reassure investors that the day of an actual policy tightening is still distant.