Hong Kong shares open flat

Reported by AAP
Tuesday, April 17, 2012

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Hong Kong stocks have opened 0.06 per cent lower after a mixed performance on Wall Street where investors weighed positive retail sales against a New York manufacturing slowdown.

The benchmark Hang Seng Index on Tuesday was down 12.77 points to 20,597.87 in the first minutes of trade.

Chinese shares were flat in morning trade with investors reluctant to enter the market because of a lack of trading incentives, dealers said.

The benchmark Shanghai Composite Index, which covers A and B shares, was up 0.04 per cent, or 0.88 points, to 2,357.90.

The market was waiting for the government to loosen monetary policy after China last week announced its economy grew by 8.1 per cent in the first three months of 2012, its slowest pace in nearly three years.

23/05/2012 04:22Sydney, Australia. 23 May,2012
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