Hang Seng Falls 1.3% Weekly
The Hang Seng fell 32 points or 0.2% to end at 19,721, reversing gains from earlier deals as most sectors retreated. Markets ended in the red for the second session, down by 1.3% for the week which was the first decline in four amid a sharp pullback in US futures ahead of the Fed’s preferred inflation data later today.
Cautious investors continued to assess the potential impact of fewer rate reductions in the US next year, following three cuts this year. In the mainland, the PBoC maintained its key lending rates at record lows, in line with market consensus.
Some biggest laggards included Kuaishou Tech (-5.4%), KE Holdings (-3.2%), Want Want China Holdings (-3.0%), and Innovent Biologics (-2.2%). In contrast, Semiconductor Manufacturing surged over 8%, after the US asked Nvidia to investigate how its products ended up in China over the past year. Tencent Holdings Ltd. climbed 2.7%, after launching a new gifting feature on its WeChat platform.
Source : Trading Economics
