Hang Seng Down 0.3% at Close
The Hang Seng Index fell 0.3% to close at 26,346, reversing three days of gains as U.S. futures indicated a lower open on Wall Street. Mainland stocks also declined after reaching a decade high, with concerns over U.S.-China trade tensions. Key losses were seen in Hong Kong's consumer and tech sectors, including Zijin Gold Intl. (-4.5%) and Anta Sports (-4.2%). However, support was noted from the People's Bank of China, which plans to maintain a supportive monetary policy and ease investor rules to attract long-term capital.
The Hang Seng fell 87 points, or 0.3%, to finish at 26,346 on Tuesday, reversing three consecutive sessions of gains as U.S. futures pointed to a lower open on Wall Street following Monday’s rally.
Mainland stocks also eased after six straight sessions of strength, retreating from a decade high ahead of official October PMI data and amid growing doubts over the durability of the recent easing in U.S.-China trade tensions.
Hong Kong's consumer and tech sectors weighed on the index, with steep losses from Zijin Gold Intl. (-4.5%), Anta Sports (-4.2%), China Hongqiao Group (-3.7%), and Xiaomi Corp. (-2.3%).
Losses were tempered by remarks from People’s Bank of China Governor Pan Gongsheng, who said policymakers will maintain a supportive monetary policy stance and implement moderately loose measures.
Separately, Beijing plans to ease investor rules to attract long-term capital, with the China Securities Regulatory Commission highlighting stability and diversification as key priorities.
