Index Hang Seng Close Lower
The Hang Seng lost 159 points or 0.75% to close at 21,093 on Monday, swinging from a 3% surge in the prior session, mostly due to declines in consumer and tech.
Sentiment was downbeat after data from China over the weekend showed September CPI hit a three-month low and PPI notched its lowest in six months. Traders also grew cautious ahead of trade data later today and the Q3 GDP report this week. Still, the index pared some early losses, lifted by hopes that recent stimulus measures and fiscal support plans in the mainland might push China's GDP growth closer to 5% this year.
Finance Minister Lan Fo'an has indicated room for issuing more sovereign bonds and pledged to ease local government debt, suggesting a possible budget revision. Separately, officials vowed more policy support for businesses across the mainland. In the US, markets were closed for a holiday. Anta Sports plunged 9.1% on weak sales, while SenseTime (-5.8%), Meituan (-5.5%), and Fosun Intl. (-4.8%) also slumped.
Source: Trading Economics
