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

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Jan 4 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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