Hang Seng Drops 0.8%, Investors Cautious Ahead of Hong Kong Inflation Data
The Hang Seng Index weakened on Thursday, dropping 202 points, or 0.8%, to 25,950, reversing the previous session's gains. The decline occurred as investors took profits and adopted a more cautious stance ahead of the release of important macro data.
Global sentiment was mixed. US equities were supported by strong corporate earnings reports and improving risk appetite, but regional markets were more restrained as investors continued to weigh geopolitical uncertainty related to the US-Iran standoff and its potential impact on energy flows in the Strait of Hormuz. Remaining high oil prices also helped maintain inflation concerns, thus curbing risk appetite in Asian markets.
In Hong Kong, market focus was on March inflation data scheduled for release later in the session, which is expected to provide fresh signals on price pressures and influence expectations about monetary conditions. At the stock level, declines were led by Tencent (-1.3%), AIA Group (-1.1%), Geely Automobile (-3.2%), Xiaomi (-1.5%), and Anta Sports (-1.1%). (Asd)
Source: Newsmaker.id
