Hang Seng Finishes Slightly Lower
The Hang Seng fell 33 points or 0.14% to close at 22,944 on Wednesday after a rally in the prior session. The decline came amid profit-taking on select tech stocks, pulling the market back from a four-month high.
Sentiment was downbeat after US President Trump planned to impose 25% tariffs on auto, drug, and chip imports. Meanwhile, doubts lingered over the sustainability of the recent rally in Chinese stocks, despite Beijing's more pro-tech and private enterprise stance.
Losses were capped by the smallest drop in six months for China’s new home prices in January, as efforts to stabilize the property sector continued. Consumers and financials led the weakness, while property and tech remained subdued.
Some laggards included Hang Seng Bank (-4.0%), Meituan (-3.2%), and JD Logistics (-1.4%). In contrast, Semicon anufacturing jumped by 7.7%, hitting a record high. Traders now await China’s key lending rate decision in the coming days.
Source: Trading Economics
