January 29, 2014 / 8:06 AM / 4 years ago

Hong Kong shares snap 4-day losing streak as volumes sag

Jan 29 (Reuters) - Hong Kong shares produced their first gain in five days, helping benchmark indexes bounce off five-month lows on Wednesday after a big hike in Turkish interest rates halted a selloff in emerging markets.

The Hang Seng Index, which closed on Tuesday at its lowest since end-August, finished up 0.8 percent at 22,141.6 points. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong rose 1.4 percent.

Turnover sank to the lightest in more than a week as investors awaited the outcome of a two-day U.S. Federal Reserve meeting, due early Thursday Asia time.

South Africa could become the third emerging market this week after Turkey and India to take steps to quell a mix of inflationary pressures at home and a flight of capital.

Hong Kong markets will be open half a day on Thursday before shutting for the Lunar New Year. Trading will resume on Tuesday, Feb. 4.

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