The Hang Seng fell 94 points or 0.4% to end at 25,519 on Thursday, snapping the three-day winning streak after reversing early gains. Sentiment weakened ahead of China's July activity data due Friday, with investors wary of the impact from U.S. tariffs, soft demand, and recent adverse weather.
Industrial output and retail sales in the mainland are expected to slow, while the jobless rate may edge higher. Meantime, fresh data showed new yuan loans logged their first monthly drop since 2005, as banks typically ease lending in July.
Most sectors declined, led by tech, consumer, and financials. A small developer, Road King Infrastructure, plunged 7.6% after unexpectedly suspending payment of all of its offshore debt obligations.
KWG Group Holdings sank nearly 25% on a winding-up petition, with a court hearing set for October 22. Other major losers included Lenovo Group (-6.1%), BYD Electronic (-4.9%), Bank of China Hong Kong (-3.0%), and Power Asset Holdings (-2.7%).
Soucre: Trading Economics
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