Hang Seng Turns Early Gains to Finish Sharply Lower
The Hang Seng tumbled 448 points or 1.7% to close at 25,441 on Tuesday, reversing morning strength and marking its seventh straight loss, the longest losing streak in months. The index notched a five-week low amid renewed trade tensions and doubts over a potential tariff deal between China and the U.S. later this month.
Sentiment worsened after Beijing announced sanctions on five U.S.-linked subsidiaries of South Korea’s Hanwha Ocean, while both countries began imposing new port fees on shipping firms, opening another front in their trade dispute. Caution also grew ahead of China’s September CPI and PPI data due Wednesday, as deflation risks persist.
All sectors dragged the index lower, led by tech, consumer, and property. SMIC plunged 9.2%, followed by Kuaishou Tech (-6.7%), Hansoh Pharma (-5.4%), and Galaxy Entertainment (-5.2%). Capping further losses were upbeat China car sales data in September and signs that President Trump will remain on track to meet Xi Jinping in late October.
Source : Tradingeconomics.com
