The Hang Seng Index fell 99 points, or 0.4%, to close at 25,831 on Wednesday (November 19), extending its decline for a fourth session and holding at its lowest level in two weeks. Sentiment remained weak after Wall Street's prolonged decline on Tuesday ahead of the release of Nvidia's earnings report, the latest FOMC meeting minutes, and key US employment data.
Concerns also grew that President Trump's lower approval rating could spur more fiscal spending and increase inflation risks. Diplomatic tensions between China and Japan persisted, further weighing on risk appetite. Locally, markets awaited Hong Kong's October inflation data due on Thursday, while the People's Bank of China (PBOC) will set its monthly lending rate.
Meanwhile, the Hong Kong Central Management Authority (HKMA) is reportedly tightening its oversight of banks' handling of non-performing loans amid deepening stress in the property sector. The decline was broad-based, led by the technology and property sectors. Xiaomi shares plunged 4.7% after warning of further smartphone price increases next year due to soaring memory chip costs. Other decliners included Pop Mart Intl. (-2.4%) and SMIC (-1.2%). (alg)
Source: Trading Economics
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