The Hong Kong dollar moved narrowly against the US dollar in subdued trade with participants looking for signs of any outflow of funds after the recent strength of the local market and China raising reserve requirements, which triggered concern over further tightening policy in the mainland.
Hong Kong shares ended flat by midday in thin volume as investors booked profits from the previous session's two-week closing high amid nervousness that a recent rally had gone too far and jitters over the outlook for corporate earnings.