Hong Kong Stocks falls ahead of Fed decision

September 20,2023

Hong Kong share market finished session lower on Wednesday, 20 September 2023, as sentiment was dampened amid China's housing slump and policy disappointment. Meanwhile, sentiment was also bearish amid caution ahead of the Federal Reserve's monetary policy announcement due later today.

At closing bell, the benchmark Hang Seng Index declined 111.57 points, or 0.62%, to 17,885.60, the lowest level since August 23. The Hang Seng China Enterprises Index dropped 53.92 points, or 0.86%, to 6,181.73.

Among blue chips, Tencent weakened 1% to HK$309.20, Alibaba Group fell 0.4% to HK$84.50, NetEase slipped 3.4% to HK$154.70, and Meituan lost 2.4% to HK$118.80. Property developer Longfor fell 2.1% to HK$15.18 while Wuxi Biologics tumbled 3.9% to HK$41.80.

Energy related stocks advanced on the outlook for crude prices after a recent surge towards US$100 a barrel. PetroChina climbed 1.6% to HK$5.83 while ENN Energy jumped 1.9% to HK$63.50.

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