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Stocks Blog: Weighed down by Tencent, MTR, Hang Seng closes 0.2 per cent lower after lacklustre day of trading

  • Retailers, financial services providers and utilities are among Wednesday's biggest losers 
  •  Macau casinos and mainland Chinese telecoms services providers are among the day's biggest gainers

 

Topic |   Stocks Blog
INTRODUCTION

The global economy is expected to be in focus in Asia on Wednesday following weak US manufacturing data overnight. The data comes on the heels of disappointing figures from Europe earlier this week.

The US will remain in focus this week, with attention now turning to the ADP employment report due on Wednesday and the monthly jobs report on Friday. Moreover, slowing growth globally, coupled with the
US-China trade war
, has sparked yet more speculation about US Federal Reserve interest rate cuts this year.

With the China markets resuming trading only on October 8, we will sharpen our focus on Hong Kong, which witnessed its worst day of violence on Tuesday amid anti-government protests that are in their fourth month now.

Follow us, Xie Yu and Azar Zaidi in Hong Kong, as we keep track of the day’s developments. If you would like to receive the Stocks Blog each trading day via email, shoot a message to Deb Price (
[email protected]
) and she will add you to the list.