Hong Kong stocks open the week with a loss - RTHK
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Hong Kong stocks open the week with a loss

2020-01-20 HKT 17:46
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  • Gains made in the last week attracted profit takers to the floor. File photo: RTHK
    Gains made in the last week attracted profit takers to the floor. File photo: RTHK
Hong Kong shares finished on a negative note on Monday as investors cashed in profits following last week's gains.

The Hang Seng index slipped 0.9 percent, to close at 28,795.

On the mainland, the Shanghai Composite Index gained 0.7 percent, to 3,095 while the Shenzhen Composite Index gained 1.3 percent, to 1,829.

Most Asian markets were mixed Monday as investors took a step back after last week's rally, though the mood remains upbeat.

Tokyo and Sydney each ended up 0.2 percent and Seoul piled on 0.5 percent, while Taipei was also up.

Singapore, Wellington, Mumbai, Bangkok, Jakarta and Manila were in the red.

AxiTrader's Stephen Innes said the general outlook was for further rises.

"There's a belief that global growth will continue to pick up speed over the coming months, as significant downside risks to the global economy have been turned aside, and worries over a possible recession have diminished," he said in a note.

However, Michael Hewson of CMC Markets UK said there was still "an element of worry, with the resilience of the gold price speaking to a market that doesn't necessarily want to put all of its eggs into one basket". (AFP)