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8 months ago
Hong Kong stocks drop most in 2 weeks, wary before Italy's referendum, US jobs
December 2, 2016 / 8:26 AM / 8 months ago

Hong Kong stocks drop most in 2 weeks, wary before Italy's referendum, US jobs

1 Min Read

Dec 2 (Reuters) - Hong Kong stocks fell the most in two weeks on Friday as investor anxiety over Italy's weekend referendum and U.S. payroll data later in the day offset optimism over the Shenzhen-Hong Kong investment link set to go live on Monday.

The Hang Seng index dropped 1.4 percent to 22,564.82 points, and lost more than 0.7 percent for the week. The Hong Kong China Enterprises Index lost 1.1 percent to 9,781.23.

Shares lost ground across the board, with tech and services sectors among the worst performers.

Energy shares took a breather following a sharp rally driven by this week's deal by the Organisation of Petroelum Exporting Countries to cut production.

The long-awaited Shenzhen-Hong Kong Stock Connect will launch on Monday. Analysts expect the scheme will benefit Hong Kong more as small-cap stocks are much cheaper there than in Shenzhen. (Reporting by Jackie Cai and John Ruwitch; Editing by Kim Coghill)

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