Update | Hong Kong stocks fall in line with rest of Asia amid trade policy concerns, but gold miners surge
Chan Ka Keung, Hong Kong’s Secretary for Financial Services and the Treasury, expects the Year of the Rooster to be full of uncertainties
Hong Kong stocks ushered in the Year of the Rooster with declines, mirroring losses in global equities following US President Donald Trump’s controversial immigration ban.
The city’s financial market will be volatile in the year ahead as investors focus on short-term gains amid looming interest rate hikes and global political risks, analysts say.
The Hang Seng Index was down 0.18 per cent or 42.39 points to 23,318.39 at the close on Wednesday. The Hang Seng China Enterprises Index, or the H-share index, dropped 0.48 per cent or 47.44 points to 9,756.61.
Chan Ka-keung, Hong Kong’s Secretary for Financial Services and the Treasury, said the Year of the Rooster would be full of uncertainties.
“Trump’s policies have brought many changes that will have an impact on the market. The US is likely to have more interest rate rises which Hong Kong will need to follow due to the currency peg,” Chan said at a media briefing on Wednesday.
European countries such as Germany and France have presidential elections. These events will bring shocks to the market
“European countries such as Germany and France have presidential elections. These events will bring shocks to the market,” he added.
