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Nikkei Markets

Hong Kong shares edge up after surprise Fed rate cut

Most bank shares fall but Bank of East Asia rises on news of strategic review

HONG KONG (Nikkei Markets) -- Hong Kong shares edged up after a choppy morning session on Wednesday as investors considered a surprise rate cut by the U.S. Federal Reserve, which failed to boost confidence and sent stocks on Wall Street lower overnight.

The Hang Seng Index added 0.1% to 26,317.56 by noon after falling as much as 0.9% earlier. China Mobile rose 1.4%, contributing most to the gauge's gains by points. London-headquartered lender HSBC Holdings fell 1.2%, while Hang Seng Bank declined 3.2%. Standard Chartered lost 2.7%.

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