The Hang Seng lost 95 points or 0.5% to finish at 19,700 on Tuesday, down for the third session amid a steep decline in US futures following a record close on Wall Street Nasdaq, ahead of an anticipated interest rate reduction from the Fed Wednesday.
The index hits its lowest level in over a week, weighed by the third straight session of losses in Chinese markets and vigilance before the PBoC's monthly review of key lending rates later this week, after record low levels in November.
Further declines were limited by a report from Reuters that China plans a record top budget deficit of 4% in 2025 to support a more proactive fiscal policy.
Meanwhile, the country's annual growth rate for 2025 is anticipated to remain around 5%, in line with the 2024 target. Dragging down the index were property, consumers, and tech sectors. Among the top losers were Synagistics Ltd. (-8.2%), Miniso Group (-3.2%), Wuxi Biologics (-2.6%), Techtronic Inds. (-2.2%), and China Hongqiao Group (-1.7%).
Source: Trading Economics
The Hang Seng index surged 359 points, or 1.4%, to close at 25,418 on Friday, ending a three-day losing streak. Optimism improved after Wall Street's S&P 500 hit a record high on Thursday, with tr...
The Hang Seng Index opened 77 points, or 0.31%, higher at 25,136 points. The Hang Seng China Enterprises Index rose by 22 points, or 0.25%, to 8,960 points, while the Tech Index increased by 23 points...
The Hang Seng Index fell 285 points, or 1.1%, to close at 25,058 on Thursday (September 4), weakening for a third session amid widespread weakness. The index followed mainland Chinese stocks lower aft...
The Hang Seng Index opened up 145 points, or 0.57%, reaching 25,489 points. The National Enterprises Index gained 52 points, also up 0.57%, to stand at 9,102 points, while the Technology Index increas...
U.S. President Donald Trump said on Wednesday he plans to hold talks about the war in Ukraine in coming days after his Alaska summit with Russian President Vladimir Putin in August failed to achieve a...
US stocks closed lower on Friday after weaker-than-expected August jobs data raised concerns about a slowing economy, even as expectations for Federal Reserve rate cuts firmed. The S&P 500 gave up earlier gains, ending 0.3% lower and below...
The U.S. dollar fell sharply against major peers on Friday after crucial monthly jobs data showed that American employers hired fewer workers than expected, which affirms weakening labor market conditions and likely guarantees a Federal Reserve...
Oil prices fell on Friday as a weak U.S. jobs report dimmed the outlook for energy demand, while swelling supplies may grow further after OPEC and allied producers meet over the weekend. Brent crude futures settled at $65.50 a barrel, down $1.49,...
Asia-Pacific markets opened higher Friday after U.S. President Donald Trump signed an executive order Thursday formalizing a lower Japanese auto...
Hiring at US companies was lower than expected in August, consistent with other evidence of weakening labor demand.
Private-sector jobs increased...
A rally in the world's largest tech companies drove stocks higher as bonds rebounded after weak jobs data validated wagers...
US job openings fell in July to the lowest in 10 months, adding to other data that shows a gradually diminishing appetite for workers amid...