Hang Seng Falls 0.4% at Close
The Hang Seng fell 72 points, or 0.4%, to close at 19,688 on Monday after trading slightly higher in the morning, dragged down by losses across sectors.
Sentiment turned sour as China’s markets slumped to a near three-month low, down for a fourth session amid growing concerns over a sluggish recovery and trade risks as Trump returns to the White House.
Limiting losses was a private sector survey that showed China’s services activity rose the most in seven months in December, even as overseas orders fell and cost pressures increased.
Meanwhile, the Shanghai and Shenzhen bourses met with foreign institutions over the weekend, pledging to further open up China’s stock markets.
Index leaders Tencent Hlds. and Meituan fell 1.2% and 2.2%, respectively. Other notable losers were JD Logistics (-6.7%), Pop Mart Intl. (-5.7%), and China Hongqiao Group (-3.7%). In contrast, Xpeng Inc. jumped 3.1% after agreeing with Volkswagen to expand their partnership and work together on an ultra-fast EV charging network in China.
Source: Trading Economics
