Market Wrap: Hong Kong stocks dip ahead of Fed; GCL jumps

Hong Kong stocks dipped on Thursday, even as solar and property stocks gained sharply, as investors remained cautious ahead of the outcome of the U.S. Federal Reserve FOMC meeting just after midnight (HKT).

“The market looks cheap, but investors are still a little bit cautious in the short term”, said Heather Hsu, head of research at Fortune CLSA Securities Ltd. “You can see Chinese government’s stimulus having an impact here and there, but those measures are unlikely to boost near-term corporate earnings.”

via Business feed http://www.scmp.com/business/money/stock-talk/article/1035917/market-wrap-hong-kong-stocks-dip-ahead-fed-gcl-jumps