Bloomberg(18/9) -- Hong Kong stocks fell
a second day as technology and energy companies led declines ahead of
the Federal Reserve’s announcement on whether it will pare stimulus.
The Hang Seng Index fell 0.1 percent to
23,147.39 as of 9:37 a.m. in Hong Kong. The Hang Seng China Enterprises
Index, also known as the H-share index, slid 0.1 percent to 10,640.97.
The H-share index entered a bull market
last week after rebounding more than 20 percent from a June low, while
the Hang Seng Index erased its 2013 loss. Shares climbed as China
economic data including exports and factory output boosted confidence in
the world’s second-biggest economy. Hong Kong’s equity benchmark traded
at 11.1 times estimated earnings yesterday, compared with 15.4 for the
Standard & Poor’s 500 Index.
Bank of America Merrill Lynch last week
joined Goldman Sachs Group Inc., JPMorgan Chase & Co. and Deutsche
Bank AG in raising predictions for economic expansion in China. The
government has defended its target of 7.5 percent annual growth.
Futures on the S&P 500 gained 0.1
percent today. The U.S. equity gauge added 0.4 percent yesterday in New
York, sending the index toward a record high, as Microsoft Corp.
announced a $40 billion buyback.
The Federal Open Market Committee is
considering whether it will taper $85 billion in monthly bond buying.
Purchases will probably be cut by $5 billion, according to a Bloomberg
survey of economists, less than the $10 billion reduction predicted
earlier.
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Written by: Kontak Perkasa Futures
PT.Kontak Perkasa Futures, Updated at: 9:37 AM
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