Hong Kong stocks fall as US data delay, Fed policy uncertainty hit sentiment

Hong Kong stocks fell on Monday as investors turned cautious ahead of the long-delayed release of key US economic data, with uncertainty over the Federal Reserve’s rate moves dampening risk appetite.\nThe Hang Seng Index declined 0.7 per cent to 26,373.52 as of 9.55am local time, adding to the 1.9 per cent loss recorded on Friday. The Hang Seng Tech Index dropped 0.6 per cent. On the mainland, the CSI 300 Index retreated 0.6 per cent and the Shanghai Composite Index shed 0.5 per cent.\nAmong the top decliners, online travel-booking agency Trip.com slumped 3.9 per cent to HK$553.50, while search-engine leader Baidu slid 2.1 per cent to HK$114.50 and pharmaceutical firm WuXi AppTec dropped 2.7 per cent to HK$102.60.\nLimiting losses, Pop Mart International jumped 1.3 per cent to HK$219.20 on reports that Sony Pictures planned to produce a film featuring the blind-box toymaker’s popular Labubu dolls. Food-delivery service provider Meituan advanced 1 per cent to HK$101 and Chinese home-grown chipmaker SMIC added 1.5 per cent to HK$74.60.\nOn Friday, the US government said it would publish the nonfarm payrolls for September on Thursday, the first major economic data since a 43-day shutdown halted statistical releases. The unusually long blackout on market-moving indicators has complicated assessments of the economy and muddied expectations for a rate cut in December.\nSeveral Fed officials recently signalled that borrowing costs might stay unchanged next month, citing persistent inflation risks and the need for more clarity on the labour market.\nElsewhere in Asia-Pacific, Japan’s Nikkei 225 and Australia’s S&P/ASX 200 both slipped 0.3 per cent, while South Korea’s Kospi rose 1.6 per cent.\n