Hang Seng Ends 0.5% Lower
The Hang Seng fell by 104 points or 0.5% to close at 19,601 on Thursday after a slight gain in the previous session, dragged by a modest drop in US futures following Nvidia's earnings forecast which fell short of some investors' high expectations.
Meantime, Goldman Sachs analysts noted a clear shift in the macro environment post-US election, with a stronger dollar posing headwinds for Asian equities.
Still, losses were mitigated by hopes that Beijing might adopt stronger fiscal policies next year to counter the impact of Trump's tariffs on Chinese exports. All sectors declined, with tech and property among the top losers.
Kuaishou Tech tumbled 1.8% due to concerns about future profit growth, while Alibaba Pictures slipped 8.4% on lower profits in H1 of 2024. Other major losers included Yadea Group (-5.2%), Chow Tai Fook Jewellery (-4.2%), and KE Holdings (-2.8%). Traders now await Hong Kong's inflation data, due later today, after the September figure reached a three-month low of 2.2%.
Source: Trading Economics
