The Hang Seng Index weakened 61 points, or 0.24%, to close at 25,105 on Thursday (August 21st), reversing earlier gains after a sluggish start. Sentiment weakened as US index futures weakened, following the FOMC minutes that signaled a hawkish stance amid persistent inflation risks ahead of the Fed's Jackson Hole symposium.
Chairman Powell also expressed reluctance to cut interest rates, warning of tariff-driven price pressures this summer. Meanwhile, Reuters reported that China is considering allowing yuan-backed stablecoins to encourage global currency adoption, a potential shift in its stance on digital assets.
Technology and consumer staples stocks led the decline, with investors cautious ahead of Hong Kong's July inflation data due later today. China Resources Power plunged nearly 6% to a 4.5-month low on lower first-half revenue and dividend plans, while Baidu fell 2.6% on a revenue miss. Other significant decliners included Laopu Gold (-4.0%), Meituan (-3.0%), and Xiaomi Corp. (-2.3%). (alg)
Source: Trading economics
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of ...
The Hang Seng Index extended its rally for the third consecutive day in the latest trading session in Hong Kong on Wednesday (February 11). The index rose 0.3%, or 83.23 points, to close at 27,266.38,...
The Hang Seng continued to strengthen on Tuesday (February 10th), rising 156 points (0.6%) to close at 27,183. This marked a second consecutive day of gains, with most sectors contributing to the mark...
Hong Kong stocks surged on Monday morning. The Hang Seng Index rose 488 points, or around 1.8%, to 27,051, rebounding after weakening in the previous session. Sentiment was also lifted by Wall St...
The Hang Seng Index weakened 1.2% to close at 26,559.95 in Hong Kong trading on Friday (February 6). This decline brought the Hang Seng Index to its lowest closing level since January 20, after a slig...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...