Hang Seng Falls for 3rd Day in a Row! Financial & Technology Stocks Hit!
The Hang Seng Index fell 212 points or 0.9% to close at 24,072 on Monday (06/30/2025). This decline marked the third consecutive session that Hang Seng was in the red zone, with weakness occurring across all major sectors of the Hong Kong stock market.
The main cause of the decline was China's manufacturing activity report which recorded a contraction for the third straight month in June. This raised investor concerns about the regional economic outlook, ahead of the release of similar data from a private survey on Tuesday. The hardest-hit sectors were financials, followed by property, technology, and consumer staples.
Several stocks recorded significant declines, such as Bank of China Hong Kong which plunged 5.5%, Li Auto fell 3.3%, Meituan fell 2.9%, and Tencent lost 1.5%. However, Laopu Gold shares actually jumped to a record high supported by high gold prices, even though its IPO lock-up period had ended.
On a monthly basis, the Hang Seng continued to gain 3.4% in June, the second consecutive monthly gain. Positive sentiment came from strong IPO activity in Hong Kong and easing concerns over US tariffs. On the other hand, Chinese Premier Li Qiang said the government is ready to take decisive action to boost consumption and address deflationary pressures.
Source: (ayu-Newsmaker)
