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
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