Hong Kong Market edges lower

Hong Kong share market finished session edged lower on Friday, 05 April 2024, joining a broader retreat in Asian markets, after hawkish comments from a trio of Fed policymakers as well as rising oil prices tempered bets for an interest-rate cut as early as June this year.

At closing bell, the benchmark Hang Seng Index dropped 1.18 points, or 0.01%, to 16,723.92. The Hang Seng China Enterprises Index sank 11.42 points, or 0.19%, to 5,863.57. Financial markets in mainland China were closed for a public holiday.

Among blue chips, WuXi Biologics slumped 4.8% to HK$13.36 while its affiliate WuXi AppTech tumbled 5.6% to HK$35.10. Alibaba Health slid 5.7% to HK$2.80 and peer JD Health lost 4.4% to HK$25.25. Longfor declined 2.5% to HK$10.20. Tencent gained 1% to HK$311.60 and food delivery platform Meituan strengthened 1.8% to HK$100.70. HSBC Holdings jumped 2.1% to HK$62.70.

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