The Hang Seng plunged 168 points, or 0.9%, to close at 19,280 on Wednesday, falling for a third straight session and hitting a six-week low as losses spread across sectors. Risk-off sentiment prevailed as traders grappled with uncertainty over U.S. interest rates and policy under incoming President Trump.
Caution also persisted ahead of China's March National People's Congress, with investors expecting limited policy action for the time being. Meanwhile, Chinese officials criticized Washington's decision this week to blacklist several Chinese technology companies over alleged military ties.
Tencent Hlds. slumped nearly 3% to a four-month low despite saying its business would not be affected by the U.S. move. A modest rise in U.S. futures offered some support, limiting further losses after data showed U.S. job openings hit a six-month high in November. Other sharp declines were seen for Smoore Intl. (-6.5%), Xiaomi Corp. (-4.3%), Techtronic Inds. (-4.9%), and Semiconductor Manufacturing (-2.4%).(AL)
Source: Trading Economics
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