Hong Kong stocks drop for the first time in 5 days

Stocks fell prior to release of a labor report that may show a slowdown in US employment.

A Bloomberg report said, “The Hang Seng Index slipped 1.3 percent to 20,318.17 as of 10:44 a.m. in Hong Kong. About eight stocks fell for every one that rose on the 46-member gauge. The measure rose the past four days, sending the index toward a weekly gain of 3.8 percent.”

The report also noted that futures on the Standard & Poor’s 500 Index fell 0.6 percent. “The index retreated 1.2 percent in New York yesterday as banks fell and investors speculated that the US jobs report will show the economy continues to struggle,” said the report.

View the report here.