Hang Seng Ends Lower After Morning Rally
The Hang Seng fell 103 points or 0.5% to close at 20,311 on Tuesday, reversing a surge in the morning session amid profit-taking after the index hit its highest in a month following Monday's pledge from the Chinese Politburo to ramp up stimulus next year.
Markets ended lower for the first session in three after fresh data showed Chinese export growth slowed sharply in November while imports shrank further. A drop on Wall Street Monday after a series of record highs also rattled sentiment ahead of key US inflation data later this week.
In business news, China opened a probe into suspicions that US chipmaker Nvidia Co. broke anti-monopoly laws in a 2020 deal. Traders now shift focus to the annual Central Economic Work Conference due to start Wednesday. Most sectors dipped, with tech, and property among top losers. SenseTime Group sank 13.0% as it moved away from its traditional AI products. Other steep losses were Smoore Intl. (-4.3%), Wuxi Biologics (-3.7%), and BYD Electronic (-3.7%).
Source : Trading Economics
