Hong Kong Market falls 0.73%, eyes on Powell

The Hong Kong stock market finished session lower on Tuesday, 27 February 2018, following an weak lead from Mainland China market as mainland investors turned cautious ahead of the opening of the annual National People's Congress on 5 March 2018. Investors' appetite for risk assets subdued amid concerns about impact of certain amendments in the wording of China's constitution after China's ruling Communist Party on Sunday set the stage for President Xi Jinping to stay in office indefinitely, with a proposal to remove a constitutional clause limiting presidential service to just two terms in office. Further, market sentiments weighed down by caution crept in ahead of US Federal Reserve Chairman Jerome Powell's highly anticipated congressional testimony later in the day. The Hang Seng Index fell 0.73%, or 229.94 points, to 31,268.66. The Hang Seng China Enterprises Index, or the H-share gauge, slid 1.46%, or 187.52 points, to 12,646.54.

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