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Hong Kong stocks fall on profit-taking after strong rebound
October 20, 2015 / 8:08 AM / 2 years ago

Hong Kong stocks fall on profit-taking after strong rebound

Oct 20 (Reuters) - Hong Kong stocks fell on Tuesday as investors took profits after a three-week rebound that boosted the benchmark Hang Seng Index by more than 13 percent.

The Hang Seng index ended down 0.4 percent at 22,989.22 points, while the China Enterprises Index also lost 0.4 percent to 10,649.45.

Though China’s third-quarter economic growth data on Monday was slightly better than expected at 6.9 percent year-on-year, it confirmed the economy was continuing to slowly lose momentum, adding to the uncertain outlook for demand and corporate profits.

In Hong Kong, all main sectors lost ground on Tuesday, getting no inspiration from a last-hour share price jump on the mainland.

Among the biggest fallers in Hong Kong were commodity-related stocks, which were hit by lingering worries about China’s economic health. (Reporting by Samuel Shen and Pete Sweeney; Editing by Kim Coghill)

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