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Hong Kong Stocks fall, energy shares weigh

Capital Market 

The ended lower on Tuesday, 29 November 2016, weighed down by energy as oil prices dropped on doubts that producer cartel OPEC would hammer out an output cut this week. Investors' risk appetite was also curbed by a lacklustre performance in global equity markets overnight. Wall Street suffered its worst performance in nearly a month, while European stocks also softened, led by a slump in Italian banks as political risk resurfaced in Europe ahead of a referendum in Italy this weekend.

But losses were limited ahead of next week's unveiling of the much-anticipated Shenzhen-Stock Connect, which will offer foreign individual investors access to the tech-heavy Shenzhen market for the first time. Sector performance was mixed, with energy and raw material sliding while industrial and utilities gained. The Hang Seng Index ended down 0.41%, or 93.50 points, to 22,737.07 and the Hang Seng China Enterprises index fell 0.3%, or 29.33 points, to 9,846.21. Turnover decreased to HK$68.7 billion from HK$70.6 billion on Monday.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 29 2016. 15:15 IST