Hang Seng Rises But Closes Month with Steep Losses
The Hang Seng rose 57 points or 0.3% to finish at 19,424 on Friday after tumbling in the prior session, helped by gains in all sectors. The tech index led the rise amid potentially softer-than-expected US curbs on chip equipment sales to China. Financials and consumers also advanced, as China would ease visa restrictions for Shenzhen residents visiting Hong Kong from Dec.
In the US, Wall Street will resume trading after Thursday's holiday. For the month, however, markets logged their second straight decline, down by 4.4%, burdened by increased concerns over the impact of persistent trade disputes between Beijing and Washington. At the same time, it remains unclear whether China will roll out new measures to spur economic recovery, with the year drawing to a close. Some traders cautiously prepared for November PMI data from Chinese officials, set to be published on Saturday. Among the top movers of the day included Galaxy Ent. (4.4%), Semicon Manufacturing (4.0%), and Li Auto (3.8%).
Source: Trading Economics
