Hong Kong shares slip from near eight-month high, HSBC tumbles
Hong Kong shares slipped from a near eight-month high, led by a 1.9 per cent tumble for index heavyweight HSBC Holdings as investors on Monday pared last week’s gains on their return from a holiday on Friday.
The Hang Seng Index, which closed on Thursday at its highest since February 4 after the US Federal Reserve maintained its monthly stimulus, ended a typhoon-shortened session down 0.6 per cent at 23,371.5. The China Enterprises Index of the top Chinese listings in Hong Kong slipped 0.5 per cent.
Trading resumed in the afternoon after Typhoon Usagi forced cancellation of the morning session. Markets in Hong Kong were also shut for the Mid-Autumn Festival holiday on Friday, during which other Asian bourses fell on renewed worries that the Fed will soon cut its bond-buying.