
The Hang Seng plunged 182 points, or 0.9%, to close at 19,560 on Thursday after a sluggish session the previous day, weighed down by losses across sectors. Investor jitters grew over China's policy outlook ahead of next week's central economic work forum and Politburo meeting.
U.S.-China technology restrictions and concerns about additional trade disputes also rattled markets. Some economists warned that China's recovery momentum during Q4 could slow in H1 2025, partly due to the impact of the new U.S. administration.
Political turmoil in South Korea and France further contributed to market volatility, along with caution ahead of China's trade data, due later this week.
Fed Chair Powell's latest comments on the U.S. economy and a surge in U.S. tech stocks on Wednesday, ahead of Friday's NFP data, limited further declines. Among the biggest losers were Meituan (-4.0%), Alibaba Health Intl. (-3.8%), Trip.Com (-3.6%), and KE Holdings (-3.1%).
Source: Trading Economics
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