Hang Seng Dips 1% at Finish
The Hang Seng lost 256 points or 1.1% to close at 23,892 on Wednesday, giving up gains from the prior session amid weak data from China.
Consumer prices on the mainland edged up in June for the first time in five months, but deflation risks lingered. Meanwhile, producer prices fell the most in two years as muted demand and tariff-related uncertainties intensified price competition.
Losses were broad-based, driven by falls tech, property, and consumers. Henderson Land plunged 8.6% after issuing a HKD-denominated convertible bond. Other notable laggards included Sun Hung Kai Properties (-3.1%), Meituan (-2.5%), and Xiaomi Corp. (-2.0%).
Further losses were capped by remarks from U.S. President Trump, who said trade talks with the EU and China were progressing well, easing fears that Beijing would be targeted in the next round of tariff hikes. Meantime, IPO momentum in Hong Kong is likely to surge in H2, with 100–139 new listings for the year, according to the South China Morning Post.
Source: Trading Economics
