Hong Kong Shares Extend Falls
Hong Kong Shares Extend Falls
Hong Kong's equities slipped 100 points or 0.5%, to 20,979 on Tuesday morning session, marking the second day of decline amid losses in consumers, tech, and financials.
Investors remained hesitant to take new positions after data showed Chinese exports and imports grew less than expected in Sept. Caution also persisted ahead of China's Q3 GDP prints and Oct. activity data, set to be released later this week. Traders were also closely watching Hong Kong leader John Lee's annual policy address today, in which he is expected to prioritize economic growth in Asia's financial hub.
A modest rise in US futures helped limit further losses after Wall Street’s S&P 500 and Dow Jones closed at record highs overnight. Meanwhile, Caixin media said Beijing may raise CNY 6 trillion from ultra-long government bonds over three years to stimulate growth. Sharp weaknesses were seen in China Resources Beer (-5.6%), Fosun Intl. (-4.8%), CSPC Pharmaceutical (-3.6%), KE Holdings (-3.3%), and Meituan (-2.8%).
Source : Trading Economics
