Hong Kong stocks down as tech shares slide ahead of Fed rate decision

Wharf Real Estate Investment

04/05/2022 06:05

May 4 (Reuters) - Hong Kong stocks fell on Wednesday with
technology shares leading the slide as investors awaited the
U.S. Federal Reserve's interest-rate decision.
    
** The Hang Seng Index  .HSI  fell 1.33% to 20,820.32 in the
morning session. The Hang Seng China Enterprises Index  .HSCE 
dropped 1.95% to 7,125.85.
    
** Mainland Chinese markets are closed for a holiday. Trading 
will resume on Thursday.    
    
** HSBC Hong Kong shares  0005.HK  rose as much as 3.1% 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.  urn:newsml:reuters.com:*:nFWN2WV1ST  
    
** Shares of China's Meituan  3690.HK  fell 5.9% and JD Health
International  6618.HK  plunged 11.6% as their shareholders cut
long positions.  urn:newsml:reuters.com:*:nL2N2WW03L
     
** The three biggest H-shares percentage decliners were JD
Health, Innovent Biologics Inc  1801.HK , down 7.49%, and
Meituan  3690.HK . 
    
** The top gainers among H-shares were Postal Savings Bank of
China Co Ltd  1658.HK , up 2.4%, followed by ENN Energy Holdings
Ltd  2688.HK , which rose 1.22% and China Resources Land Ltd
 1109.HK , up 1.09%.
  
** The sub-index of the Hang Seng index tracking energy shares
 .HSCIE  dipped 0.4%, the IT sector  .HSCIIT  fell 3.6%, and the
Hang Seng Tech Index  .HSTECH  dropped 3.1%.
    
** The top gainer on the Hang Seng Index was Wharf Real Estate
Investment  1997.HK , up 2.02%, while the biggest loser was
Meituan  3690.HK . 
 

 (Reporting by Donny Kwok;
Editing by Vinay Dwivedi)
 ((donny.kwok@thomsonreuters.com; +852 2843 6470;))