Hong Kong stocks edge up but tech shares fall; Samsung results hit Seoul market
Hong Kong's Hang Seng Index edged up 19 points in early trading on Thursday after the US Federal Reserve held rates steady, but the Hang Seng Tech Index fell 1.7 per cent. In Seoul, Samsung Electronics slumped 4.13 per cent after its third-quarter net profit missed analyst expectations, dragging the
Hong Kong stocks were muted in early trading on Thursday, after the US Federal Reserve held interest rates steady as expected. The benchmark Hang Seng Index inched up by 19 points to 23,113 points, according to the Standard.
The Hang Seng Tech Index, however, was down by 1.7 per cent to around 3,786 points, pointing to a mixed start for the city's equity market.
In South Korea, shares erased early gains to fall sharply on Thursday. Samsung Electronics slumped after announcing its third-quarter results. The benchmark KOSPI was down 131.04 points, or 2.18 per cent, at 5,881.40 as of 0132 GMT, having risen more than 1 per cent earlier in the session.
Chipmaker Samsung Electronics erased early gains to fall 4.13 per cent after its third-quarter results showed net profit missing analyst expectations. Peer chipmaker SK Hynix was up 1.14 per cent, also cutting gains, Reuters reported.