Hong Kong stocks fall on U.S. policy concerns, gaming shares ease

Sino Land

02/02/2017 04:44

HONG KONG, Feb 2 (Reuters) - Hong Kong stocks fell on 
Thursday as investors continued to lock in gains after the 
Federal Reserve stuck to its mildly upbeat view of the U.S. 
economy but gave no hints of the timing of its next rate move. 
    The benchmark Hang Seng index  .HSI  slid 0.63 percent by 
the lunch break to 23,170.70 points, while the China Enterprises 
Index  .HSCE  fell 0.64 percent, to 9,694.03 points. 
    While strong economic data from the United States and 
elsewhere underpinned risk assets, uncertainty and concerns over 
U.S. President Donald Trump's policies are leaving markets on 
edge. On Wednesday the Federal Reserve held interest rates 
steady in its first meeting since Trump took office. 
    "The outcome of U.S. rates was expected, and that allowed 
investors to focus on fundamentals in a very cautious market," 
said Linus Yip, chief strategist at First Shanghai Securities. 
"Investors are watching closely what will come up next from the 
Trump government." 
    Real estate developers led the slide with property subindex 
 .HSNP  falling 0.95 percent. Shares of Sino Land Co Ltd 
 0083.HK  fell 1.99 percent and China Resources Land Ltd  
 1109.HK  slid 1.73 percent. 
    Macau gaming stocks remained weak after the world's biggest 
casino hub posted a slower than expected 3.1 percent rise in 
gambling revenue in January.  urn:newsml:reuters.com:*:nENNH210RT  
    Wynn Macau Ltd  1128.HK  fell 2.3 percent. MGM China 
Holdings Ltd  2282.HK  and Galaxy Entertainment Group Ltd 
 0027.HK  slid more than 1 percent.  
    China's markets remain shut for the Lunar New Year holiday 
and will resume trade on Friday.    
 
 (Reporting by Donny Kwok; Editing by Jacqueline Wong) 
 ((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters 
Messaging: donny.kwok.reuters.com@reuters.net)) 
 
Keywords: CHINA STOCKS/HONGKONG MIDDAY