Hong Kong shares end marginally higher ahead of Fed policy update

Hong Kong shares ended higher on Wednesday, with gains in financial firms and tech names offset by losses in healthcare stocks, as investors awaited hints about faster tightening of monetary policy from the U.S. Federal Reserve's meeting outcome.

Hong Kong shares ended higher on Wednesday, with gains in financial firms and tech names offset by losses in healthcare stocks, as investors awaited hints about faster tightening of monetary policy from the U.S. Federal Reserve's meeting outcome. The Hang Seng index rose 0.2% to close at 24,289.90, while the China Enterprises Index gained 0.1% to 8,512.29.

** The Fed is due to update its policy plan at 1900 GMT, after a two-day meeting, while geopolitical situation in Europe is also in focus as the growing tensions have added to a risk-averse environment for investors. ** The Hang Seng Tech index gained 0.8%, with Tencent Holdings up 1.5%, while delivery giant Meituan slipping 0.4%.

** The Hang Seng Finance index rose 0.9%, with banking and financial services provider HSBC Holdings up 3% to become the biggest point contributer lifting the Hang Seng Index. ** Healthcare firms plunged 4.4%, with Wuxi Biologics closing down nearly 7% to become the second biggest decliner on the Hang Seng index.

** Local media 21st Century Business Herald reported that a seventh round of centralised pharmaceutical procurement has been launched, as part of a push to lower medical costs for patients. ** China Evergrande Group ended 1.7% higher, as the developer and its financial advisers will hold a call with investors at 9 p.m. local time (1300 GMT) on Wednesday, the first such call since it defaulted on some dollar bond payments last month.

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