Hong Kong Shares Edge Lower
Hong Kong shares fell 64 points (0.2%) to 26,587, reversing the previous day's gains, primarily due to losses in consumer stocks. Investors are cautious ahead of key Chinese economic data and the final Q3 GDP reading. Uncertainty over a U.S. Senate vote to end a government shutdown also affected sentiment. Meanwhile, Chinese equities reached a decade high as producer price deflation eased. Notable laggards included Hansoh Pharma (-2.7%), Wuxi Biologics (-1.9%), and Sino Biopharma (-1.6%).
Stocks in Hong Kong fell 64 points or 0.2% to 26,587 on Tuesday morning, reversing the previous day’s rally amid losses mainly in consumer shares.
Investors turned cautious ahead of key Chinese data later this week, including October credit growth, industrial output, and retail sales.
Locally, the final Q3 GDP reading due later this week may show slight improvement, as suggested by flash estimates.
Sentiment was also tempered by uncertainty over the outcome of a U.S. Senate vote to end the record 41-day government shutdown, though optimism lingered that a resolution was near, Reuters reported.
Meanwhile, Chinese equities hit a decade high on Monday as producer price deflation eased and consumer prices turned positive for the first time in eight months.
Among early laggards in Hong Kong were pharma stocks, with Hansoh Pharma down 2.7%, followed by Wuxi Biologics (-1.9%), and Sino Biopharma (-1.6%).
