Hong Kong stocks plunged 200 points, or 1.0%, to 19,544 on Thursday morning, after a quiet session the previous day, as the sector's overall decline was broadly broad. Traders were concerned about the impact of political instability in South Korea and France.
They also shied away from riskier assets amid a potential trade war between China and the US, fueled by technology sanctions from the Biden administration and threats of tariffs from newly elected President Trump. An unexpected slowdown in China's services activity last month added to market jitters.
Meanwhile, US stock futures were mixed after posting a three-day record close, ahead of Friday's NFP figures. However, hopes for more economic stimulus from China's annual Central Economic Work Forum and Politburo meeting in December helped limit further declines. Among large-cap stocks, Alibaba Health International slumped 3.8%, followed by Giant Biogene Holdings (-3.4%), Meituan (-3.0%), and Techtronic Industries (-2.4%).
Source: Trading Economics
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