Hang Seng Breaks Uptrend, Pressure Coming from US
Hong Kong stocks opened lower on Monday. The index fell 49 points, or 0.2%, to 26,703, breaking a three-session uptrend. Sentiment was further dampened after US futures fell sharply following a mixed Wall Street close on Friday, overshadowed by geopolitical tensions and weakness in technology stocks ahead of this week's Fed interest rate decision.
Domestically, Hong Kong's third-quarter business sentiment fell slightly to -3 from -2, extending a nearly two-year negative period. Investors are also becoming cautious ahead of the release of China's 2025 industrial earnings report in a few days, especially as January-November growth was only 0.1% and November profits plunged 13%.
However, Hong Kong's decline was offset by a fourth consecutive day of gains in mainland stocks, after China's central bank last week increased liquidity to meet funding needs ahead of the Lunar New Year in February. Sector-wise, weakness in technology and consumer discretionary stocks outweighed gains in property and financials. Stocks that (asd)
Source: Newsmaker.id