Hong Kong stocks continued to weaken. The Hang Seng Index fell 1.3% to 25,555.02 at 10:14 a.m. local time, widening its weekly loss to 2.8%. Hang Seng Tech also fell 2.3%. The biggest pressure came from large caps: BYD Electronics -5.2%, SMIC -4.3%, Alibaba -2.7%, and Tencent -1.1%. In mainland China, the CSI 300 -1.3% and the Shanghai Composite -0.9%. After rallying more than 30% this year, sentiment has turned cautious.
All eyes are on Monday's Chinese data releases: third-quarter GDP, retail sales, and industrial production. Economists' consensus forecasts GDP at ~4.7% (y/y), the slowest pace in a year. Investors are also awaiting the fourth Communist Party plenary session (four days), which will formulate economic and social targets through 2030. The results of this data and the direction of policy will determine whether the Hang Seng rebounds or continues to experience pressure. (az)
Source: Newsmaker.id
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