The Hang Seng Index plunged 320 points, or 1.2%, to close at 25,765 on Monday (December 8), reversing gains from the previous two sessions as most sectors weakened, particularly the financial, property, and consumer staples sectors. Deflationary risks persist ahead of the November CPI and PPI data in mainland China later this week.
Investors are also growing nervous ahead of the likely Politburo meeting and the annual Central Economic Work Conference in China, as they seek guidance on policy direction for 2026. However, the weakness was partially offset by regulatory easing in China, with leading financial firms reportedly allowed to relax capital requirements and leverage limits.
Data also provided support: China's exports in November beat estimates following a tariff truce with the US, while imports rose for a sixth month. Pop Mart Intl. plummeted (-8.4%), followed by Zijin Gold Intl. (-4.3%), Anta Sports (-2.7%), and Techtronic Industries (-2.7%). Conversely, Baidu jumped 3.4% after considering the spin-off of its AI chip unit. (alg)
Source: Trading Economics
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