Hong Kong Stocks Weaken Amid Storm Warning and China Data
Hong Kong stocks fell 26 points, or 0.1%, to 24,711 on Tuesday morning, reversing gains from the previous session. Traders remained cautious after the city's weather bureau extended its highest "black" rain warning until 11:00 a.m., as heavy rain disrupted schools, hospitals, courts, and civil registry offices.
The Hong Kong Stock Exchange remained open with revised policies that allow trading to continue regardless of the weather. Investors also cautiously awaited China's July trade data and upcoming inflation figures, amid concerns over rising trade barriers and weak domestic demand. Consumer stocks fell amid modest gains in the property, financial, and technology sectors.
On Wall Street, all three major indexes posted their strongest daily gains since May 27, as investors sought bargains after Friday's sell-off and increased bets on a September interest rate cut following weaker-than-expected US employment data. Notable decliners included KE Holdings (-4.4%), Laopu (-3.1%), Chow Tai Fook (-2.7%), and Meituan (-1.1%). (alg)
Source: Trading Economics
