Hong Kong shares may start weaker, China banks in focus
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Reuters, (28/3) -- Hong Kong shares
may start weaker on Thursday as investors take risk off the table ahead
of a four-day Easter weekend with the potential for a run on Cyprus's
banks when they reopen later in the day still unnerving markets.
China's banking watchdog has ordered banks to strengthen checks on the underlying assets of a range of wealth management products to ward off potential risks to the financial system. China's government said on Wednesday it would unveil new measures to further liberalise interest rate and exchange rate markets this year to stabilise and sustain economic growth. On Wednesday, the Hang Seng Index rose 0.7 percent at 22,464.8, a third straight daily gain taking it to the highest close since March 15. The China Enterprises Index of the top Chinese listings in Hong Kong climbed 1 percent. |
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