Hong Kong shares follow China market lower

Hong Kong - Hong Kong's benchmark Hang Seng Index surrendered early gains of as much as 1% and ended Thursday lower, dragged by a last-hour slide in mainland stocks, as investors awaited the US Federal Reserve's policy decision later in the day.

But an index tracking Hong Kong-listed Chinese shares managed to stay in positive territory.

The Hang Seng index fell 0.5% to 21 854.63, while the China Enterprises Index gained 0.6% to 9 964.17 points.

The US central bank is considering raising interest rates for the first time since 2006, although economists are split in their expectations. The Fed's decision is due at 20:00.

Sam Chi Yung, analyst at Delta Asia Financial Group, said Hong Kong stocks would benefit from a US rate rise because the action would remove one of the biggest uncertainties facing investors, and would also help strengthen the Hong Kong dollar, which is pegged to the US currency.

Energy, industrials and financial shares gained while declining sectors included utilities, IT and telecommunications.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed. 
Subscribe to News24
Rand - Dollar
16.45
-0.6%
Rand - Pound
19.81
-0.1%
Rand - Euro
16.97
+0.4%
Rand - Aus dollar
11.19
+0.4%
Rand - Yen
0.12
-0.6%
Gold
1,801.80
-0.4%
Silver
19.92
-0.3%
Palladium
1,928.00
-0.3%
Platinum
872.50
-1.6%
Brent Crude
113.50
+1.7%
Top 40
60,122
-1.3%
All Share
66,225
-1.2%
Resource 10
61,700
-3.0%
Industrial 25
81,031
-0.3%
Financial 15
14,658
-1.2%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot