Dec 13 Hong Kong stocks steadied after a tumble
the previous day, though some investors stayed on the sidelines
ahead of a U.S. Federal Reserve policy meeting starting later on
In the afternoon, stocks clawed back Tuesday morning losses
and eked out a marginal gain for the day.
The benchmark Hang Seng index added 0.1 percent, to
22,446.70 points, while the Hong Kong China Enterprises Index
inched up 0.2 percent, to 9,719.94 points.
On Monday, the Hang Seng dropped 1.4 percent.
The Fed's two-day meeting is widely expected to bring the
first U.S. interest rate hike this year, which could lure more
capital away from emerging markets.
Sector performance in Hong Kong on Tuesday was mixed, with
strength in the energy and materials stocks
countered by weakness among real estate developers.
An index tracking the property sector retreated
nearly 0.6 percent, dragged by concerns of rising borrowing
costs, since Hong Kong's interest rates typically follow those
of the United States.
Energy shares were among the best performers, after OPEC's
consensus over the weekend to cut output fuelled an expectation
of a rising oil price.
(Reporting by Jackie Cai and John Ruwitch; Editing by Richard