HK stocks buck regional trend amid midterm jitters
Stocks edged generally lower at the start of Asian trade on Tuesday and oil prices stabilised after the previous session's tumble, with investors on edge with hours to go to the start of voting for the US midterm elections. In Hong Kong, however, the benchmark Hang Seng Index opened up 76 points, or 0.33 percent, at 23,469. The China enterprises index edged up 27 points, or 0.35 percent, to 7,933 while the tech index inched 13 points, or 0.36 percent, higher to 3,853. Mainland markets went the other way, with the Shanghai Composite Index opening down 13 points, or 0.37 percent, at 3,624. The Shenzhen Component Index fell 76 points, or 0.69 percent, to 10,934 while the ChiNext Index was 28 points, or 1.18 percent, lower at 2,429. With the Nikkei closed for a public holiday, the Kospi plunged 143 points, or 2.46 percent, to 5,715 in Seoul and was just a tad worse off at 145 points down at one stage before noon. "Tuesday will be nothing more than the day ahead of a much bigger day," ING analysts wrote in a note. By tomorrow, the market will have guidance on the midterm implications and the US Treasury's quarterly refunding announcement, they wrote. The yield on...
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