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Indonesia News Portal for Traders | Financial & Business Updates

22 January 2025 09:14  |

Equities in Hong Kong Retreat from 4-Week Peak

Shares in Hong Kong slipped 319 points or 1.6% to 19,787 in early trade on Wednesday, ending gains in the prior six sessions after US President Trump said he could impose a 10% tariff on all Chinese imports after excluding China from the list of countries he planned to target immediately just a day earlier.

The Hang Seng withdrew from its highest in nearly four weeks, burdened by broad-based weakness. Still, gains on Wall Street overnight helped limit further losses, as Trump is expected to announce a new investment push for AI, led by big firms including Softbank Group Corp., OpenAI, and Oracle. At home, the annual inflation rate in Hong Kong was at 1.4% in December, keeping unchanged for the third month and staying at its lowest since May. Early laggards included KE Holdings (-3.2%), JD Logistics (-2.6%), and Longfor Group (-1.7%).

Meantime, Geely Auto sank 1.8% despite planning to partner with Handal Motor to build a second-phase factory in Indonesia and start operation by Q3.

Source : Trading Economics

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