Hong Kong Stocks Set to End Week on a Downside
Hong Kong’s benchmark index fell 37 points, or 0.2 percent, to 19,205 in early trading on Friday (10/1), marking a fifth straight session of losses amid declines in most sectors including financials and property. Cautious traders weighed China’s central bank’s decision to temporarily halt purchases of government bonds due to excess demand, with plans to resume based on market conditions. Caution also grew ahead of China’s December goods data, expected over the weekend.
That followed November data showing a rise in exports and a drop in imports. Meanwhile, U.S. futures fell sharply, ahead of a nonfarm payrolls reading later in the day, and as Wall Street’s major averages were on track for weekly declines. For the week, the market is set for a second straight decline, down more than 2.5 percent so far, weighed down by concerns over the potential for fewer interest rate cuts this year by the Fed and looming U.S. tariff hikes. Some laggards included Smoore Intl. Hlds. (-5.3%, Lenovo Group (-3.2%), and Pop Mart Intl. (-2.8%).
Source: Trading Economics
