Hong Kong stocks to trade range-bound

Hong Kong stocks are likely to trade range-bound next week as investors are kept on the sidelines ahead of the US interest rate decision from the Federal Reserve, dealers said Friday.
US strong retail sales reports and a sharp drop in crude oil prices helped lift Wall Street to a fresh six-year high Thursday.
Analysts said the productivity report was a double-edged sword, because it suggested inflationary pressures that might prompt the Federal Reserve to seek higher-than-expected interest rates.
The Fed is due to meet for its monthly rate-setting meeting on Wednesday. However, Kenny Tang, research head at Tung Tai Securities, said the market trend could still be upward and overall sentiment is positive due to Chinese government policies.