Hang Seng Turns Early Gains to Finish Lower
The Hang Seng fell 93 points or 0.4% to end at 25,177 on Monday, reversing early gains as property and financial stocks dragged the index. Sentiment soured on rising debt repayment risks in Hong Kong’s property sector, with bond maturities set to jump near 70% next year amid weak sales. U. futures also slipped as President Trump plans to unveil tariffs on semiconductor imports in the coming weeks. Caution prevailed ahead of the Fed’s Jackson Hole symposium, where Chair Powell is expected to outline the economic outlook and policy stance.
Meanwhile, the PBoC pledged to “thoroughly” implement a “moderately loose” monetary policy with targeted support, a signal that it may refrain from aggressive easing such as rate cuts despite China seeing its weakest month so far this year in July. Standard Chartered sank 5.1% after a U S lawmaker urged a probe into alleged sanctions evasion, while property stocks Longfor (-2.8%), China Resources Land (-2.3%), and Henderson Land (-2.2%) also weighed.
Source: Trading Economics
