Hong Kong Shares Start the Week Lower
Hong Kong stocks fell 0.6% to 25,915, ending a two-session rise. Financials and consumer sectors led the decline amid cautious sentiment ahead of China's trade data and upcoming CPI and PPI readings. U.S. futures were mixed, influenced by Fed policy expectations and labor market signals. Losses were limited by rising forex reserves in China and Hong Kong. Notable decliners included Pop Mart, Innovent Biologics, Cherry Auto, and China Hongqiao.
Hong Kong stocks lost 165 points, or 0.6%, to 25,915 in Monday morning trade, snapping a two-session rise as most sectors fell, led by financials and consumer names.
Sentiment turned cautious ahead of China’s November trade data due later today, after October figures showed an unexpected drop in exports and softer-than-expected imports.
Attention also shifted to upcoming CPI and PPI readings later this week amid persistent deflation risks.
Meanwhile, U.S. futures were mixed as traders awaited the Fed’s policy decision later this week, with expectations shaped by signs of a cooling labor market and upcoming leadership changes at the central bank.
Losses, however, were limited by fresh data showing an increase in China’s forex reserves in November ahead of the Central Economic Work Conference.
Hong Kong’s reserves also rose for a second month to a five-month high.
Notable decliners included Pop Mart (-5.8%), Innovent Biologics (-5.7%), Cherry Auto (-4.2%), and China Hongqiao (-3.4%).
