HONG KONG – Hong Kong stocks fell on Wednesday, with losses in tech shares overshadowing gains in banks, as investors awaited interest-rate decision from the US Federal Reserve.
The Hang Seng Index fell 1.1 percent to 20,869.52, ending its five winning streak. The Hang Seng China Enterprises Index dropped 1.78 percent to 7,137.63, marking its biggest daily percentage decline since April 25.
The sub-index of the Hang Seng tracking energy shares dipped 0.5 percent, the IT sector dipped 3.35 percent, and the Hang Seng Tech Index dropped 3.1 percent, while the financial sector edged up 0.02 percent and the property sector climbed 0.33 percent.
The top gainer on the Hang Seng Index was ENN Energy Holdings Ltd, which gained 2.73 percent, while the biggest loser was Alibaba Health Information Technology, which fell 7.48 percent.
HSBC Hong Kong shares rose as much as 3.1 percent after it said it will commence a share repurchase of up to $1 billion and has entered into agreements with Merrill Lynch International to handle the buyback beginning on May 4.
Shares of Meituan fell 4.58 percent and JD Health International plunged 12.97 percent as their shareholders cut long positions.
Mainland developers trading in Hong Kong slipped 1 percent.