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Tuesday, August 16, 2016, 16:34

HK shares cool down after a peak

By Reuters

SHANGHAI, Aug 16 (Reuters) - Hong Kong shares, like those in many Asian markets, were roughly flat on Tuesday, as they cooled off after reaching their highest point this year.

The Hang Seng index fell 0.1 percent, to 22,910.84, while the China Enterprises Index was unchanged at 9,707.99 points.

Although share markets were lacklustre on Tuesday, there is not much pessimism in Asia at present, thanks to a jump in oil prices and investor expectations of an extended phase of easy monetary policy around the globe.

On Wall Street on Monday, S&P 500, Dow and Nasdaq stock indexes all closed at life-time highs, gaining 0.3 to 0.6 percent

But financial shares in Hong Kong fell on Tuesday, pacing sector weakness on the mainland.

The IT sector jumped nearly 2 percent, while energy shares were firm on the higher oil prices.

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