Hong Kong stocks open lower after Fed rate cut

HONG KONG: Hong Kong shares opened lower Thursday, tracking Wall Street losses after the Fed cut rates but expressed a cautious view about future actions.

The Hang Seng Index dropped 0.40 percent, or 110.92 points, to 27,666.83 in opening trade.

The benchmark Shanghai Composite Index also opened 0.40 percent, or 11.66 points lower, at 2,920.85.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, lost 0.49 percent, or 7.77 points, to open at 1,563.53.