Hong Kong Shares Stay in Red as Rate Cut Hopes Recede

MT Newswires Live06-11

Hong Kong stocks marginally fell again for the second day and lowest this month as the hopes for US Federal Reserve interest-rate cuts receded. The investor sentiment remained watchful, waiting for the inflation data from the US and China.

The Hang Seng Index fell by 1.04%, or 190.61 points, to close Tuesdayâs session at 18,176.34. The Hang Seng China Enterprises Index fell by 0.90%, or 58.31 points, to close Tuesday's session at 6,452.06.

In corporate news, Eagle Nice (International) Holdings (HKG:2368) declared its final dividend for the year ended March 31 of KH$0.08 per share. The companyâs share fell over 3%.

Meituan's (HKG:3690) attributable profit rose 60% to 5.37 billion yuan in the first quarter from 3.36 billion yuan in the year-ago period. The companyâs shares jumped over 4%.

Dongfeng Motor Group (HKG:0489) sold 147,206 vehicles in May, down from 169,247 in the year-ago period. The companyâs output stood at 138,853 units, compared with 140,826 units the same month last year. The companyâs share fell over 2% on Tuesdayâs close.

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