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Hong Kong stocks snap 4-day winning streak on outflow worries
January 4, 2017 / 8:19 AM / a year ago

Hong Kong stocks snap 4-day winning streak on outflow worries

Jan 4 (Reuters) - Hong Kong stocks ended slightly lower on Wednesday, snapping a four-session winning streak, as a stronger U.S. dollar added to worries about capital outflows from emerging markets.

The Hang Seng index closed down 0.1 percent at 22,134.47 points, while the Hong Kong China Enterprises Index slipped 0.2 percent to 9,440.99.

The dollar index, a measure of the greenback’s value against six major currencies, climbed to a 14-year intraday high overnight, leaving emerging markets vulnerable to a rotation of capital back the United States as investors look for better yields.

But investor anxiety was expected to ease, with the HIS Volatility Index, a gauge of market stress, falling nearly 4.7 percent by the close.

Most sectors advanced modestly on Wednesday. Industrial stocks led gains, rising around 1.4 percent.

Declines in oil prices hurt shares of energy majors . U.S. crude futures retreated more than 2 percent overnight as the dollar rallied and traders took profits. (Reporting by Jackie Cai and John Ruwitch; Editing by Kim Coghill)

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