Hong Kong Stocks mixed in volatile trade

Headline shares of the Hong Kong market were lower on Tuesday, 30 October 2018, hurt by fresh worries over Sino-U.S. trade war after reports that the U.S. is preparing to announce tariffs on all remaining Chinese imports if next month's talks between Presidents Donald Trump and Xi Jinping fail to ease the trade war. In afternoon trades, the Hang Seng Index fell 45.23 points or 0.2% to 24,766.81. The Hang Seng China Enterprises Index increased by 45.25 points or 0.45% to 10,057.88. The sub-index of the Hang Seng tracking the Commerce & Industry sector fell 0.3%, Utilities sector shed 0.3%, and properties sector sank 0.8%, while financial sector added 0.01%.

OFFSHORE MARKET: US stock market closed lower on Monday, amid worries about renewed trade tensions between the U.S. and China as well as on lower crude oil prices. Investors are concerned that corporate earnings may peak this quarter as borrowing costs rise with the US Federal Reserve expected to raise interest rates by 25 basis points in December, followed by another two possible hikes in 2019. The Dow Jones Industrial Average slumped 245.39 points or 1% to 24,442.92, the Nasdaq tumbled 116.92 points or 1.6% to 7,050.29 and the S&P 500 fell 17.44 points or 0.7% to 2,641.25.

 

European markets ended higher on Monday. The French CAC 40 Index rose by 0.4%, the German DAX Index and the U.K.'s FTSE 100 Index jumped by 1.2% and 1.3%, respectively.

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