The Hang Seng Index fell 63 points, or 0.2%, to 26,283 on Thursday (October 30th), reversing early gains and marking its second consecutive session of declines. Sentiment turned cautious despite China's Ministry of Commerce stating that Beijing and Washington had agreed to extend their temporary trade truce for another year following a meeting between US Presidents Trump and Xi Jinping in South Korea.
Traders noted that significant gaps remain, with a partial tariff rollback unlikely to help struggling Chinese exporters or reverse weak domestic consumer demand. Caution also grew ahead of China's October PMI reading and Hong Kong's third-quarter GDP report.
Meanwhile, US index futures were mixed following the Fed's second interest rate cut this year, suggesting further easing was not warranted. Most sectors ended lower, led by property and technology, while significant single-stock decliners included Techtronic Industries (-5.0%), Sunny Optical Tech (-4.8%), Prada Spa (-4.3%), Trip.com (-3.4%), and Henderson Land Development (-2.6%). (alg)
Source: Trading Economics
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