Hong Kong shares fall to near two-month low on coronavirus fears [Reuters (UK)]
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Source: Reuters
Hong Kong shares fall to near two-month low on coronavirus fears - Reuters 3 Min Read HONG KONG, Jan 31 (Reuters) - Hong Kong stocks erased morning session gains and ended lower on Friday, dragged down by healthcare and energy. However, bargain-hunting emerged in consumer stocks which were battered by a recent selloff amid fears of the coronavirus outbreak in China. ** The Hang Seng Index closed down 0.5% at 26,312.63 points, the lowest since Dec. 5, ending the three-session trading week 5.9% lower. The China Enterprises Index dropped 0.8% to 10,240.51 points. ** In money markets, Hong Kong’s offshore yuan overnight rate rose to 4.9355, its highest since October 2018, reflecting tight supply of Hong Kong dollars and yuan. ** “Markets are afraid of possible disruption in both Hong Kong and Chinese financial markets, especially if there is any possibility of the Chinese government extending the holiday for banks,” said Ken Cheung, chief Asian FX strategist at Mizuho Bank in Hong Kong, a
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