HK stocks slip as US rate increase looms large

Stocks were mixed at the start of the Asian trading session on Wednesday as a rise in global bond yields and oil prices paused ahead of the US Federal Reserve's policy decision due later in the ⁠day. In Hong Kong, the benchmark Hang Seng Index opened up 122 points, or 0.5 percent, at 24,789 before falling into loss territory to be 36 points in the red in early trading. The tech index was 20 points, or 0.47 percent, higher at 4,311 while the China enterprises index was up 36 points, or 0.45 percent, at 8,241. On the mainland, the Shanghai Composite Index opened down two points, or 0.07 percent, at 3,861. The Shenzhen Component Index was 11 points, or 0.08 percent, lower at 13,276 while the ChiNext Index inched down one point, or 0.03 percent, to 3,246. In Tokyo, the Nikkei opened 188 points, or 0.3 percent, higher at 63,672 before reversing direction to go into the red to the tune of being 222 points down at one stage before lunch as investors weighed mixed economic signals. In Seoul, the Kospi edged 16 points, or 0.24 percent, down to 6,611 before, unlike the Nikkei, going in the other direction to edge up above the breakeven mark to be 17 points higher at one stage before noon…