Press Releases in Hong Kong

Hong Kong stocks close lower on Wednesday

Hong Kong stocks closed lower on Wednesday, with the benchmark index posting the longest losing streak in nearly four months, while investors waited for the outcome of the US Federal Reserve’s policy meeting.

At the close of trade, the Hang Seng index fell 0.3 percent, to 25,024.75, booking the seventh straight day of losses, the longest losing streak since early July. 

Market analysts said the attention has shifted to Fed’s policy meeting, where the US central bank is widely expected to announce the tapering of its $120 billion-a-month asset purchase program in a statement at 1800 GMT.

Analysts said the Fed’s policy shift would affect global financial markets, as the move could prompt capital flows into dollar-denominated assets.