The Hang Seng Index fell 153 points, or 0.6%, to close at 25,343 on Wednesday (September 3), weakening for a second day as global equities weakened on growing concerns over fiscal pressures worldwide. Meanwhile, Dow Jones futures were seen weakening, pressured by a sixth consecutive monthly decline in the US manufacturing sector.
Adding to the uncertainty, a divided US appeals court ruled most of President Trump's tariffs illegal, though the measures will remain in place until October 14 pending a possible appeal to the Supreme Court. All sectors traded in the red after a military parade in China, attended by Russia's Putin and North Korea's Kim Jong Un, sparked profit-taking in defense-related stocks.
Locally, Hong Kong regulators launched an insider trading investigation involving at least two individuals at the HKEX. Losses were offset by private survey data showing China's services activity expanded by the most in 15 months in August. Major decliners included Henderson Land (-3.7%), Swire Properties (-3.2%), and BYD Co. (-2.5%). (alg)
Source: Trading Economics
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