August 22, 2016 / 8:22 AM / 2 years ago

Hong Kong shares edge up, but worries about weaker yuan, US rates cap gains

BEIJING, Aug 22 (Reuters) - Hong Kong’s benchmark stock index reversed earlier losses and closed slightly higher on Monday, but gains were capped by concerns about the weaker yuan and uncertainty over when the U.S. central bank will raise interest rates again.

The yuan weakened on Monday as the dollar strengthened globally, while an official index showed that it hit a record low against a basket of trade-weighted currencies last week.

The Hang Seng index edged up 0.3 percent to 22,997.91 points, while the China Enterprises Index was little changed at 9,602.65.

Investors are hoping more clues on the U.S. rate outlook may emerge from a Federal Reserve gathering this week in Jackson Hole, Wyoming. (Reporting By Winni Zhou and Nicholas Heath; Editing by Kim Coghill)

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