The Hang Seng Index plunged 323 points, or 1.3%, to close at 25,202 on Wednesday (August 27), reversing early gains and marking a second day of declines as selling swept across sectors. Sentiment worsened after several Chinese brokerages and asset managers reportedly reduced financing and limited purchases amid growing risks from the recent surge in Chinese stocks.
Trading volume on Chinese stock exchanges reached CNY 3.1 trillion on Tuesday, the second-highest in history. Investors also grew cautious ahead of Nvidia's earnings release today and Friday's PCE index. Data-wise, China's industrial profits fell 1.5% year-on-year (yoy) in July, slowing from a 4.3% decline in June, but profits fell 1.7% for the first seven months of 2025.
KE Holdings slumped 6.9%, followed by Hansoh Pharma (-5.6%), Pop Mart Intl. (-4.5%), Kuaishou Tech (-3.6%), and Meituan (-2.9%). Mixue Group shares plunged 5.2% after eliminating its interim dividend, while Chinese sportswear company Li Ning's shares plunged 5.3% due to margin pressure from steep discounts. (alg)
Source: Trading Economics
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