December 9, 2015 / 8:15 AM / 4 years ago

Hong Kong shares close down, many investors stay on sidelines

Dec 9 (Reuters) - Hong Kong shares weakened on Wednesday, weighed down by sluggish global markets and investor caution ahead of an expected U.S. rate hike next week.

The Hang Seng index fell 0.5 percent, to 21,803.76, while the China Enterprises Index lost 1.1 percent, to 9,558.76 points.

China Investment Securities (HK) said in a note to clients on Wednesday that many investors are staying on the sidelines amid a slew of weak economic data from China, and ahead of next week’s rate decision by the U.S. Federal Reserve.

“If upcoming economic data from China remains poor, the Hang Seng may decline further, testing the 21,500 level,” the brokerage said.

Nearly all major sectors were down on Wednesday.

But shares of Chinese automakers, including Dongfeng Motor , Great Wall Motor, Geely Automobile Holdings and BYD Co surged, after Citi said November wholesale of China passenger vehicles jumped 24 percent from a year earlier to a record high. (Reporting by Samuel Shen and Pete Sweeney; Editing by Richard Borsuk)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below