PT Rifan Financindo Berjangka - The Hang Seng Index fell for the fourth day, dropping 0.2%, or 38.95 to 19,240.89 in Hong Kong. The index dropped to the lowest closing level since Nov. 26.
Meituan contributed the most to the index decline, decreasing 1.6%. Li Ning Co. had the largest drop, falling 5.0%.
Today, 51 of 83 shares fell, while 29 rose; 3 of 4 sectors were lower, led by finance stocks. PT Rifan Financindo Berjangka.
Source: Bloomberg
PT Rifan Financindo Berjangka - Hong Kong shares closed lower, tracking Wall Street’s overnight decline. Investors’ focus is on U.S. nonfarm payrolls data due later in the week, IG market strategist Yeap Jun Rong said in a note.
Stronger jobs data “could trigger further risk aversion on a less dovish Fed view,” Yeap added.
Among the decliners, Sunny Optical Technology fell 7.6%, Techtronic Industries dropped 4.7% and Zhongsheng Group dropped 4.05%.
Meanwhile, NetEase rose 3.0% and WH Group gained 2.9%. The Hang Seng Index fell 0.9% to end at 19,279.84; the Hang Seng Tech Index fell 1.1% to 4,307.40. PT Rifan Financindo Berjangka.
Source: Bloomberg
PT Rifan Financindo Berjangka - The Hang Seng Index fell for a second day, dropping 1.2%, or 240.71, to 19,447.58 in Hong Kong.
The index fell to its lowest close since Nov. 29.
Tencent Holdings Ltd. contributed the most to the index’s decline and was the biggest decliner, dropping 7.3%.
For the day, 48 of 83 stocks fell, while 31 rose; all sectors fell, led by trade and industrial stocks. PT Rifan Financindo Berjangka.
Source: Bloomberg
PT Rifan Financindo Berjangka - The Hang Seng fell 72 points, or 0.4%, to close at 19,688 on Monday after trading slightly higher in the morning, dragged down by losses across sectors.
Sentiment turned sour as China’s markets slumped to a near three-month low, down for a fourth session amid growing concerns over a sluggish recovery and trade risks as Trump returns to the White House.
Limiting losses was a private sector survey that showed China’s services activity rose the most in seven months in December, even as overseas orders fell and cost pressures increased.
Meanwhile, the Shanghai and Shenzhen bourses met with foreign institutions over the weekend, pledging to further open up China’s stock markets.
Index leaders Tencent Hlds. and Meituan fell 1.2% and 2.2%, respectively. Other notable losers were JD Logistics (-6.7%), Pop Mart Intl. (-5.7%), and China Hongqiao Group (-3.7%). In contrast, Xpeng Inc. jumped 3.1% after agreeing with Volkswagen to expand their partnership and work together on an ultra-fast EV charging network in China. PT Rifan Financindo Berjangka.
Source: Trading Economics
PT Rifan Financindo Berjangka - The Hang Seng rose 137 points, or 0.7%, to close at 19,760 on Friday (3/1) after dropping more than 2% in the previous session, boosted by gains in most sectors, including consumer, technology and property. The prospect of an interest rate cut by the People's Bank of China this year supported sentiment. In addition, traders welcomed the second round of the Chinese central bank's CNY55 billion swap facility operation to support the country's stock market.
Separately, China's top planning agency announced an expansion of consumer subsidies to cover smartphones and other electronics, aimed at boosting domestic demand. However, the index pared its early gains, ending the week down 1.6%, weighed down by growing caution ahead of Donald Trump's inauguration as president on Jan. 20, underscoring concerns about a potential U.S.-China trade spat. Among individual stocks, Miniso Group jumped 8.4%, followed by Smoore International Holdings (8.3%), Xiaomi Corp. (8.3%), and (6.0%), Pop Mart Int. (3.4%), and BYD Electronic Intl. (2.6%). PT Rifan Financindo Berjangka.
Source: Trading Economics
PT Rifan Financindo Berjangka - The Hong Kong stock market climbed 248 points or 1.2% to 19,838 in Friday morning trade, partly recovering from a slump of around 2% in the prior session, with gains across most sectors, particularly tech, consumers, and property. However, markets are on track to post a weekly decline, down around 1% so far, due to looming tariff threats from the incoming US administration under Donald Trump.
Meanwhile, local data showed that retail sales in Hong Kong fell for the ninth consecutive month in November, shrinking by 8.3% yoy and deepening from October's 4.8% decline. PT Rifan Financindo Berjangka.
Source : Trading Economics
PT Rifan Financindo Berjangka - The Hang Seng Index rose 18.5 points, or 0.1%, to 20,060 on the last trading day of 2024 (31/12), after a modest decline in the previous session, helped largely by gains in the property and financial sectors. Official PMI readings from China supported sentiment, highlighted by a third-month expansion in the manufacturing sector and the strongest growth in nine months for services activity. The index rose 3.3% for the month, marking its first increase in three months.
The index has surged nearly 18% for the year, ending a four-year decline. The impressive progress has been driven by a range of support measures in China since H2 2024. Bets on higher fiscal spending next year have also boosted optimism, despite potential headwinds from global uncertainties and geopolitical tensions. On the monetary side, the PBoC has pledged to provide further monetary easing by 2025. Strong annual gains were seen at Alibaba Group (25.3%), Meituan (24.3%), China Mobile (19.8%), Tencent Holdings (18.7%), and HSBC Holdings (15.2%). PT Rifan Financindo Berjangka.
Source: Trading Economics
