Hang Seng Pares Losses at Finish Today
The Hang Seng dropped 38 points or 0.15% to close at 25,524 on Tuesday, reversing gains from the previous session as most sectors weakened. Traders grew cautious over potential downsides of the U.S.-EU trade deal, including its implications on growth and inflation. Meanwhile, President Trump floated a global tariff rate of 15% to 20% on non-negotiating partners, levels not seen since the Great Depression.
Profit-taking also weighed after benchmarks in Hong Kong and China recently hit multi-year highs. Still, the benchmark index trimmed its earlier heavy losses after Commerce Secretary Howard Lutnick indicated Washington may extend a 90-day tariff pause with Beijing, possibly paving the way for a Trump-Xi Jinping meeting later this year. Investors now turn to key macro events this week, including the Fed’s rate decision, U.S. inflation data, and China’s July PMI. Among notable decliners were KE Holdings. (-3.0%), Xiaomi Corp. (-2.6%), HKEX (-1.7%), and Want Want China (-1.6%).
Source: Trading Economics
