The Hang Seng dropped 163 points or 0.7% to close at 21,910 on Thursday, snapping a three-day winning streak. The pullback came as Washington signaled openness to easing tariffs on China but ruled out taking unilateral action.
Meanwhile, U.S. futures plunged after Wall Street logged a second consecutive day of gains Wednesday, with investors cautiously awaiting earnings from Alphabet, Intel, and PepsiCo later today.
Losses in Hong Kong were limited by reports that China began issuing special sovereign bonds to cushion the economy from rising trade tensions, aiming to raise CNY 286 billion through a three-part sale. Additionally, Beijing moved to ease market access by cutting its negative list for foreign investors from 117 to 106 industries.
All sectors closed in the red, with technology, and consumers among the top decliners. Notable losses included Meituan (-5.8%), Mixue Group (-5.4%), Kuaishou Tech (-2.7%), Geely Auto (-2.6%), and Trip.com (-1.9%).
Source: Trading Economics
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