Hang Seng Marks a Quiet Finish to November
The Hang Seng index fell 87 points to 25,859, ending a four-day winning streak due to weakness in property and financial stocks. Sentiment was cautious ahead of China's PMI data and concerns over AI-driven volatility. Losses were limited by a rise in U.S. futures. Notable laggards included Anta Sports, Li Ning, Alibaba Health, Nongfu Spring, and China Overseas Land. The index was little changed for November despite a 2.5% weekly gain.
The Hang Seng fell 87 points or 0.3% to end at 25,859 on Friday, ending a four-day winning streak as weakness in property and financial stocks weighed on the index.
Sentiment weakened amid caution ahead of China’s official November PMI data due over the weekend and private survey readings next week.
Traders also grew wary as major mainland benchmarks neared multi-year highs on AI-driven optimism, raising concerns about increased volatility heading into year-end.
Losses were limited by a modest rise in U.S. futures ahead of a shortened Wall Street session following Thanksgiving break.
Anta Sports (-0.6%) and Li Ning (-1.4%) slipped as both firms are among those exploring a potential takeover of struggling German sportswear brand Puma.
Other notable laggards included Alibaba Health (-3.1%), Nongfu Spring (-3.4%), and China Overseas Land (-2.7%).
For the month, the Hang Seng was little changed ahead of China’s Central Economic Work Conference in December, despite a 2.5% weekly gain.
