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Tuesday, September 20, 2016, 16:49

Shares flat ahead of Fed, BOJ policy decisions

By Reuters

Hong Kong stocks ended little changed on Tuesday as investors were reluctant to stake out fresh positions ahead of central bank policy decisions in the United States and Japan.

The Hang Seng index fell 0.1 percent to 23,530.86 points, while the China Enterprises Index was unchanged at 9,751.44.

The Federal Reserve is widely expected to keep interest rates steady on Wednesday, while the Bank of Japan is seen easing policy further, though economists are split over what measures it will take.

Since the Hong Kong dollar is pegged to the US dollar, any rate moves in the United States are usually followed by Hong Kong banks.

The Hong Kong market continued to get support from mainland China investors who have been snapping up blue-chips listed in the city.

On Tuesday, 4.3 billion yuan (US$644.59 million) worth of Chinese money flowed into Hong Kong stocks via the Shanghai-Hong Kong Stock Connect.

Sector performance was mixed, with raw materials and financial stocks up but IT shares down.

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