The Hang Seng fell 39 points, or 0.2%, to 19,241 on Thursday (1/9) after trading slightly higher in the morning, with losses in the financial and property sectors. The market ended lower for a fourth straight session after fresh data showed China's annual inflation rate hit a nine-month low of 0.1% in December while deflation in manufacturers continued for a 27th month.
Cautious traders also digested details about Beijing's expanded consumer trade-in scheme amid drag from the property sector. Meanwhile, U.S. futures plunged, on growing concerns that there may be fewer interest rate cuts this year as inflation risks persist. In other news, President-elect Trump is considering declaring a national economic emergency to enforce his expansive tariff policies. Li Auto suffered a sharp loss (-4.4%), along with Sinotruk Ltd. (-2.9%) and Meituan (-1.8%). In contrast, Tencent Hlds. jumped 1.6%, off a four-month low as it bought back shares after the U.S. blacklisted several Chinese technology companies over alleged military ties.(AL)
Source: Trading Economics
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