• Sat, Feb 28, 2026|
  • JKT --:--
  • TKY --:--
  • HK --:--
  • NY --:--

Indonesia News Portal for Traders | Financial & Business Updates

13 November 2024 08:27  |

The Hang Seng tumbled 580 points

The Hang Seng tumbled 580 points or 2.8% to end at 19,847 on Tuesday, extending losses from the prior session and hitting its lowest in 6 weeks after credit data in China for Oct. fell to the lowest amount in 15 years. Traders were also nervous as Donald Trump is poised to pick two persons with track records of criticizing China for key positions in his new administration.

Losses were broad-based, amid a notable fall in US futures, due to anxieties about Trump tariffs and the budget deficit. Capping the slump was news from Bloomberg that China is seeking to cut home-buying taxes.

Meantime, some traders anticipated positive outcomes from the central govt. work conference and the Politburo meeting in China next month after a legislative session last week failed to boost domestic demand and ease deflation risks. Big drags came from large-cap stocks such as China Hongqiao Group (-9.1%), Semicon Manufacturing (-8.1%), Miniso Group (-7.6%), Meituan (-5.5%), and Zhongjin Mining Inds. (-5.0%). (cay)

Source: Trading Economi

Related News

HANGSENG

Hang Seng Index Rises 0.8%; Alibaba Leads Advance

The Hang Seng Index opened 0.8% higher, climbing 146.05 to 18,159.21, as stocks gain for the sixth straight day in Hong Kong....

20 September 2024 09:07
HANGSENG

Hong Kong Stocks Rise But Face Weekly Loss

Hong Kong stocks rose 214 points, or 1.0%, to 20,700 in early trade on Friday after a slump in the previous session, supporte...

25 October 2024 10:42
HANGSENG

Hang Seng Climbs After China Reduces RRR, Short-Term Rates

Shares in Hong Kong jumped 541 points or 2.7% to 20,476 in early trade on Friday, extending a rally from the prior session an...

27 September 2024 11:42
HANGSENG

Hang Seng Down 2.8% at Close

The Hang Seng plunged 580 points, or 2.8%, to close at 19,847 on Tuesday, extending losses from the previous session and hitt...

12 November 2024 15:34
BIAS23.com NM23 Ai