Hang Seng Under Pressure at Finish
The Hang Seng tumbled 323 points or 1.3% to close at 25,202 on Wednesday, reversing early gains and marking the second day of losses as selling hit across sectors.
Sentiment turned sour after several Chinese brokerages and fund managers reportedly curbed financing and limited purchases amid risks from the recent surge in mainland stocks. Trading volumes on China’s exchanges topped CNY 3.1 trillion on Tuesday, the second highest on record. Investors are also increasingly cautious ahead of Nvidia’s earnings later today and Friday’s PCE index.
On the data front, China’s industrial profits fell 1.5% yoy in July, slowing from a 4.3% drop in June, but profits were down 1.7% during the first seven months of 2025. KE Holdings slumped 6.9%, followed by Hansoh Pharma (-5.6%), Pop Mart Intl. (-4.5%), Kuaishou Tech (-3.6%), and Meituan (-2.9%). Mixue Group sank 5.2% after scrapping its interim dividend, while Chinese sportswear Li Ning dipped 5.3% on margin pressure from steep discounting.
Source : Trading Economics
