The Hang Seng Index fell 393 points, or 1.5%, to 25,217 on Tuesday (December 16), closing at a nearly four-week low and extending the previous session's sharp decline as mainland Chinese stocks slumped further and traders grew nervous ahead of key US economic data this week. Meanwhile, China's economy showed more signs of slowing in November, with disappointing industrial output and retail sales.
Property stocks led the decline amid concerns of a prolonged downturn, particularly after China Vanke said it would hold a second bondholder meeting after failing to secure approval to extend a bond payment due on Monday. Technology, consumer discretionary, and financial stocks also retreated, with momentum lacking after key policy meetings in China concluded last week.
However, losses eased as local data showed Hong Kong's strongest third-quarter manufacturing growth in nearly three years. Xiaomi shares fell 2% due to pressure in the smartphone market, while Zijin Gold (-5.9%), Tencent Music (-3.4%), China Hongqiao (-2.9%), and SMIC (-2.2%) were among the stocks that experienced the biggest declines. (alg)
Source: Trading Economics
Hong Kong stocks surged on Monday morning. The Hang Seng Index rose 488 points, or around 1.8%, to 27,051, rebounding after weakening in the previous session. Sentiment was also lifted by Wall St...
The Hang Seng Index weakened 1.2% to close at 26,559.95 in Hong Kong trading on Friday (February 6). This decline brought the Hang Seng Index to its lowest closing level since January 20, after a slig...
The Hang Seng Index strengthened again on Thursday (February 5th), recording its third consecutive day of gains in Hong Kong trading. The index edged up 0.1%, or +37.92 points, to 26,885.24, indicatin...
The Hang Seng Index edged higher and closed at 26,847.32 in Hong Kong. Market sentiment remained stable, with gains in certain stocks managing to withstand pressure from other issuers. The largest co...
The Hang Seng Index rose 0.2% to 26,834.77 in Hong Kong, stabilizing after the previous session's 2.2% decline. Today's gains were led by the financial sector, with three of the four sectors posting g...
Gold held above the psychological $5,000 level at the start of the week, supported by a combination of factors that are "right" for the precious metal : physical demand from China, expectations of lower US interest rates, and a weakening...
Oil prices fell about 1% on Monday as concerns about conflict in the Middle East eased slightly. The market calmed after the US and Iran agreed to resume talks on Tehran's nuclear program, reducing fears of imminent supply disruptions. Brent fell...
Hong Kong stocks surged on Monday morning. The Hang Seng Index rose 488 points, or around 1.8%, to 27,051, rebounding after weakening in the previous session. Sentiment was also lifted by Wall Street. Friday's rally pushed the Dow Jones...