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Indonesia News Portal for Traders | Financial & Business Updates

11 November 2024 15:44  |

Hong Kong Stock Market

The Hang Seng slumped 301 points or 1.45% to end at 29,427 on Monday, slipping for the second session and nearing its lowest in three weeks after China unveiled a CNY 10 trillion debt-relief package for local govt. last Friday, but offered no direct fiscal stimulus to boost demand. All sectors declined, with worries mounting over heightened tensions between China and Washington under Donald Trump as the next US president.

On the data front, China's annual inflation hit its lowest in four months in October., while producer price deflation deepened. Still, markets pared their early losses amid growing hopes of support measures from Beijing after the US ordered chipmaker TSMC in Taiwan to halt shipments of advanced chips to Chinese buyers.

Meanwhile, US futures rose modestly after Wall Street hit its best week since November 2023 Friday. Among single stocks, KE Holdings slipped the most (-6.0%), followed by Sun Hung Kai Properties (-5.8%), China Overseas Land (-4.4%), and Meituan (-3.3%). (Cay)

Source:Trading economi

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