Hong Kong Stocks falls on weak regional cues

Headline shares of the Hong Kong market were softer Friday, 26 October 2018, as risk-off mood continued on tracking selloff in Mainland A-share market and other Asian bourses amid geopolitical uncertainty added to heightened worries about global growth and Sino-US trade tensions. In afternoon trades, the Hang Seng Index declined 351.53 points or 1.4% to 24,642.93. The Hang Seng China Enterprises Index decreased by 168.83 points or 1.7% to 10,007.73. The sub-index of the Hang Seng tracking the Commerce & Industry sector fell 2%, financial sector slipped 1.3%, and Utilities sector sank 1.2%, while properties sector rose 0.2%.

OFFSHORE MARKET: US stock market closed higher on Thursday, thanks to Strong results from major companies including Microsoft and Visa. Some encouraging economic news helped stabilize markets. The Commerce Department said orders to U.S. factories for major manufactured goods grew in September, and the increase was larger than analysts expected. The Dow Jones Industrial Average jumped 401.13 points or 1.6% to 24,984.55. The tech-rich Nasdaq Composite Index plummeted soared 209.93 points or 3% to 7,318.34 and the broad-based S&P 500 surged up 49.47 points or 1.9% to 2,705.57.

 

European markets also ended higher on Thursday. The French CAC 40 Index surged by 1.6%, the German DAX Index jumped by 1%, and the U.K.'s FTSE 100 Index climbed by 0.6%.

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