The Hang Seng fell 112 points, or 0.6%, to close at 19,753 on Thursday after an upbeat session the previous day, dragged down by broad-based declines across sectors.
Investors held off on entering fresh positions after the U.S. Fed cut borrowing costs for the third time this year but warned it would slow the pace of interest rate cuts next year. Meanwhile, cautious traders awaited China's key monthly lending rate decision on Friday after it hit a record low in November.
The market pared early losses, however, on a report that battery maker CATL is considering a second listing in Hong Kong to raise $5 billion, potentially the city's biggest public offering since early 2021. Separately, meaningful fiscal measures by 2025 from Beijing are expected to help the Chinese economy. Sunac China Hlds.
slumped 2.5%, as the property builder began arbitration proceedings against Wanda Group. Other companies that fell included WH Group Ltd. (-3.8%), Trip.com (-3.1%), Henderson Land Dev. (-2.9%), and MTR Corp. (-2.6%).
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...