Stock TalkMarket Open: Hang Seng seen lower amid 18th Congress, key China data
Political questions will continue to offer an excuse for Hong Kong investors to lock in profit on the sidelines of China’s 18th People's Congress, although data expected to show economic improvement in the world’s second largest economy later on Friday could bolster sentiment.
Political questions will continue to offer an excuse for Hong Kong investors to lock in profit on the sidelines of China’s 18th People's Congress, although data expected to show economic improvement in the world’s second largest economy later on Friday could bolster sentiment.
Economists expect October data to be an improvement on September, and to reinforce an expectation that the economy is bottoming out. China reports October inflation at 9.30am (HKT) and fixed asset investment factory output data on Friday afternoon (1.30pm, HKT), followed by trade figures on Saturday.
Overnight, the Standard & Poor's 500-stock index closed down 17.02 points, or 1.22 percent, to close at 1,377.51. The Nasdaq Composite shed 41.70 points, or 1.42 percent, to finish at 2,895.59. In London, the FTSE-100 Index lost 15.58 points, or 0.27 per cent, to finish at 5,776.05.
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The firm reported a net third-quarter loss of US$227 million. It said it generated core earnings of US$556 million and achieved its 2014 hedging targets two years ahead of schedule.