Hong Kong market falls despite China rate cuts

Hong Kong stock market closed down after surrendering early gains on Wednesday, 26 August 2015, as excitement over China's rate cuts cooled and sentiment was soured by a renewed sell-off in mainland markets in the afternoon. The Hang Seng Index (HSI) opened up 29 points and reversed its trend. In afternoon trade, the index soared briefly by 281 points, but pared all its gains by late trade. The Hang Seng Index ended lower by 324.57 points, or 1.52%, at 21080.39 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, sank 86.11 points, or 0.91%, to 9427.93 points. Turnover reduced to HK$108.9 billion from HK$134.5 billion on Tuesday.

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