Nov 30 Hong Kong stocks followed Wall Street
higher on Wednesday but gains were limited as investors were
reluctant to buy shares ahead of an OPEC meeting and Italy's
The benchmark Hang Seng index added 0.2 percent, to
22,789.77 points, bringing its monthly loss to 0.6 percent. The
Hong Kong China Enterprises Index lost 0.1 percent, to
Risk appetite in the Hong Kong market was curbed ahead of a
meeting of the Organization of the Petroleum Exporting Countries
(OPEC) in Vienna to discuss a planned production cut in an
effort to curb production.
Investors were also cautious as political risk resurfaced in
Europe ahead of a referendum in Italy this weekend, while
bullish U.S. GDP data strengthened expectations for a faster
pace of interest rate hikes.
Sector performance was mixed. Energy and raw
materials were among the biggest decliners, weighed
down by a slump in commodity prices.
An index tracking thermal coal prices in China lost
nearly 4 percent, while China's metal futures also tumbled, amid
signs of a spike in short-term borrowing costs.
Telecommunication shares were among the best performers. An
index tracking the sector gained more than 1.4 percent
on Wednesday, lifted by index heavyweight China Unicom Hong Kong
Ltd, which jumped more than 7 percent.
(Reporting by Jackie Cai and John Ruwitch; Editing by