Around the World's Markets: Hong Kong

Wednesday 16 June 1999 00:02 BST

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THE BENCHMARK Hang Seng index closed down 0.55 per cent at 12,935.41 as fears of a US interest rate hike weighed on a market that is perceived as unable to hold above 13,000 points in the near term.

Traders added that sentiment took a hit in the morning on news of a gun battle between South Korean and North Korean ships in the Yellow Sea.

One analyst said: "There's a bit of consolidation going on," adding that the market was thin.

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Around the World's Markets: Hong Kong

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