Hong Kong Equities Fall Further
Hong Kong stocks fell 69 points or 0.3% to 23,530 in early trading on Thursday, extending losses from the prior session amid declines in tech and consumer stocks.
Market volatility persisted as investors assessed the impact of trade policy developments on the global economy.
Caution prevailed after the conclusion of China's Two Sessions, with economists warning that the country's 5% growth target would be difficult to achieve due to mounting internal and external headwinds. Beijing’s modest pledges to boost consumption and curb overcapacity failed to ease concerns. Still, losses were limited as US futures edged higher after slowing US inflation lifted Wall Street from two days of sharp declines.
Meanwhile, the Stock Exchange of Hong Kong recognized the Stock Exchange of Thailand, allowing Bangkok-listed firms to pursue secondary listings. Among major decliners, Tongcheng Travel Hlds slipped 7.0%, Cathay Pacific Airways dropped 4.6%, while Kuaishou Technology and Meituan lost 2.4% each.
Source: Trading Economics
