Hong Kong Market falls 0.41%

Hong Kong share market declined on Friday, 24 August 2018, following a soft lead from Wall Street overnight on growing trade war concerns after U.S.-China trade negotiations produced no breakthrough and on caution ahead of an address from Federal Reserve chairman Jerome Powell. At closing bell, the Hang Seng Index dropped 113.03 points or 0.41% to 27,677.43. The Hang Seng China Enterprises Index lost 32.64 points or 0.3% to 10,781.96. The sub-index of the Hang Seng tracking the Commerce & Industry sector declined 0.14%, the financial sector was 0.74% down, and Utilities sector fell 0.41%, while properties sector rose 0.17%.

OFFSHORE MARKET NEWS, US stock market closed lower on Thursday, as traders were reluctant to make significant moves amid renewed concerns after the U.S. imposed tariffs on $16 billion worth of Chinese goods, leading to retaliation by the Asian nation. The Dow Jones Industrial Average declined 76.62 points or 0.30% to finish at 25,656.98, the NASDAQ lost 10.64 points of 0.13% to 7,878.46 and the S&P 500 fell 4.84 points or 0.17% to 2,856.98.

The major European stock markets ended down on Thursday, after the US and China applied tariffs on each other's imports. The pan-European STOXX600 index eased 0.2%. The German DAX index and the UK FTSE index both also fell by 0.2%.

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