Hang Seng Dragged Down by Greenland Issues, Market Remains Cautious
The Hang Seng Index fell 76 points, or 0.3%, to close at 26,487 on Tuesday. This was the fourth consecutive session of decline and its lowest level in a week. Sentiment weakened after US futures fell sharply, triggered by President Trump's increasingly aggressive stance on Greenland and threats of new tariffs on several European countries.
Market vigilance also came from within China itself. Mainland exchanges tightened oversight to curb speculation and trading practices deemed abnormal. However, the decline was somewhat contained after the People's Bank of China (PBOC) maintained its benchmark lending rate—unchanged for eight consecutive months—after China achieved its 5% growth target by 2025.
The greatest pressure came from technology and consumer stocks. Some of the biggest laggards included Knowledge Atlas Tech (-8.0%), Sunny Optical (-3.2%), and SMIC (-3.1%). On the other hand, China Taiping Insurance jumped 4.0% to a nearly seven-year high, driven by expectations of strong earnings performance. (az)
Source: Newsmaker.id
