Hang Seng Slips Slightly, Market Awaits Inflation Data
Hong Kong stocks weakened slightly in early trading on Thursday. The Hang Seng Index fell 74 points (-0.3%) to 26,514, reversing the previous session's gains as weakness spread across many sectors.
Investor sentiment turned more cautious as the market awaited Hong Kong's December inflation data, which was released today. For example, headline inflation remained at 1.2% in November, while core inflation was also stable at 1%. This data is important because it could influence the market's outlook on consumption and local economic conditions.
In addition to inflation, investors are also awaiting the release of the first-quarter business sentiment indicator in Hong Kong. The market wants to see whether corporate optimism can persist after previously reaching its highest level in several quarters.
Despite the weakness, the Hang Seng's decline was not too deep due to a cushion from Wall Street. US markets rallied overnight after Trump withdrew his tariff threat and asserted he would not use force to seize Greenland, calming geopolitical tensions.
On the other hand, mainland Chinese stocks continued to rally after Bridgewater reiterated its positive outlook on Chinese equities, citing improving corporate earnings prospects and supportive policy signals. On the Hang Seng, stocks weighing the most on the index included Zhaojin Mining (-4.2%), Zijin Gold Intl. (-2.4%), Minimax (-2.3%), and Xiaomi (-1.1%). (asd)
Source: Newsmaker.id
