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Tuesday, August 23, 2016, 16:26

Shares flat as investors await Fed clues

By Reuters

Hong Kong shares were roughly flat on Tuesday as investors awaited clues on US monetary policies from the coming annual conference of the Federal Reserve.

The Hang Seng index was unchanged at 22,998.93, while the China Enterprises Index lost 0.2 percent, to 9,586.99 points.

The Hong Kong market's upward momentum appears to have lost some steam over the past few sessions after the main indexes hit nine-month highs.

Investors are anxiously awaiting comments from Fed Chair Janet Yellen on Friday at the central bank's annual gathering in Jackson Hole, Wyoming.

Many investors still doubt the US will lift rates anytime soon, so a hawkish tone from Yellen would challenge that assumption.

Almost all sectors in Hong Kong fell on Tuesday, with IT and industrial shares leading the decline.

Energy shares also weakened on lower oil prices.

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