Hong Kong stocks edge up

Dhaka,  Mon,  05 December 2016
Published : 30 Nov 2016, 13:34:44

Hong Kong stocks rise on Wall Street gains

Hong Kong stocks edge up
Hong Kong stocks edged up on Wednesday, taking their cue from Wall Street, but gains were capped as investors remained cautious ahead of an OPEC meeting and Italy's referendum result.

The benchmark Hang Seng index added 0.1 per cent, to 22,766.58 points while the Hong Kong China Enterprises Index gained 0.1 per cent, to 9,852.73 points. 

The HSI index is poised to drop more than 0.7 per cent for the month of November.

Risk appetite in the Hong Kong market was curbed ahead of a meeting of the OPEC in Vienna to discuss a planned production cut in an effort to curb production.

Investors were also cautious as political risk resurfaced in Europe ahead of a referendum in Italy this weekend, while bullish US GDP data strengthened expectations for a faster pace of interest rate hikes.

Most sectors in Hong Kong rose, with telecommunication shares among the best performers, according to a news agency report.

-SRS-
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