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Hong Kong stocks flat, Tokyo opens lower

March 27: Hong Kong stocks opened barely moved on Wednesday morning as a healthy lead from Wall Street and a rally on energy firms was offset by ongoing concerns about the global economy.

The Hang Seng Index inched down 2.20 points to 28,564.71.

The benchmark Shanghai Composite Index rose 0.51 percent, or 15.16 points, to 3,012.26 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.64 percent, or 10.57 points, to 1,650.51.

Tokyo stocks opened lower on Wednesday as shares that lost rights to receive dividends weighed on the market.

The benchmark Nikkei 225 index was down 0.32 percent or 67.73 points at 21,360.66 in early trade, while the broader Topix index slipped 0.64 percent or 10.30 points to 1,607.64.

A number of stocks went ex-dividend from Wednesday, meaning investors who buy them today will not be entitled to the most recently declared dividend.

Investors were also taking a wait-and-see attitude ahead of key US-China trade talks later this week, analysts said.

US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will visit Beijing for a new round of trade talks on March 28-29, followed by a trip to the United States by China's top negotiator in April, the Chinese commerce ministry said last week.

The back-to-back trips come as Washington and Beijing battle over the final shape of a trade deal, with American officials demanding profound changes to Chinese industrial policy.

The dollar fetched 110.48 yen in early Asian trade, against 110.50 yen in New York late Tuesday.

In Tokyo, carmakers were among losers, with Toyota down 2.18 percent at 6,612 yen and Nissan down 3.98 percent at 920.5 yen.

Banks were also lower, with Sumitomo Mitsui Financial down 2.84 percent at 3,891 yen and Mitsubishi UFJ Financial down 1.67 percent at 552.2 yen.

On Wall Street, the Dow ended up 0.55 percent at 25,657.73, shrugging off lacklustre housing and consumer data.

 

(AFP/APP)

Posted on: 2019-03-27T09:20:00+05:00

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