Around the World's Markets: Hong Kong

SHARES were treading water again yesterday, with trading winding down before Christmas. Bemoaning the lack of direction, a broker said: "Investors will chase the market upwards if they see other buyers coming in. If they don't, they tend to sit on their hands and wait."

HSBC Holdings lost nearly all Wednesday's 2 per cent gain as profit-takers sold after hitting the key HK$200 resistance level.

At close the Hang Seng had lost 0.4 per cent to 10,315, with HSBC accounting for most of the fall.