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Wednesday, September 14, 2016, 16:36

Stocks end almost flat on Fed uncertainty

By Reuters

Hong Kong stocks were little changed on Wednesday as traders were reluctant to make any big bets ahead of next week's Federal Reserve policy meeting.

The Hang Seng index finished down 0.1 percent at 23,190.64 points, while the Hong Kong China Enterprises Index fell 0.3 percent to 9,542.52 points.

Many investors stood on the sidelines with overnight losses on Wall Street curbing risk appetite.

The city's financial markets will be open on Thursday but will be closed on Friday for the mid-Autumn Festival.

All eyes are on the Federal Open Market Committee (FOMC) meeting on Sept 20-21 as traders anxiously wait to see whether the Fed will raise interest rates at the review, or provide clues on when it might do so. Few traders expect a rate hike next week and markets are pricing in only a roughly 50-50 chance of one in December.

Sector performance was mixed. Energy stocks fell on lower oil prices, but the consumer service sector was firm.

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