<div id="readability-page-1" class="page"><div>Hong Kong stocks slipped 37 points, or 0.1%, to 27,789 in Thursday morning trade, breaking a six-session winning streak and easing from a 4-1/2-year high, as U.S. futures fell after Fed Chair Powell flagged persistent inflation alongside solid growth, offering little clarity on the timing of rate cuts.Caution also set in ahead of China’s official January PMI release this weekend, following late-2025 gains in both manufacturing and services.Losses were led by tech and consumer names, with declines in Sands China (-6.9%), H World Group (-4.5%), China Resources Land (-2.8%), and Galaxy Entertainment (-2.2%).Weakness was partly offset by signs of recovery in Hong Kong’s property market, where housing prices rose modestly in 2025 after four years of declines.Meanwhile, the HKMA kept its base rate at 4.0%, tracking the U.S. Fed’s decision to hold at 3%–3.75%, underscoring the city’s policy alignment under the currency peg.</div></div>

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Hong Kong stocks fell 37 points (0.1%) to 27,789, ending a six-session winning streak and retreating from a 4-1/2-year high. This decline followed a drop in U.S. futures after Fed Chair Powell's comments on inflation and growth. Key losses were seen in tech and consumer sectors, with Sands China down 6.9%. However, there are signs of recovery in the property market, with modest price increases after years of decline. The HKMA maintained its base rate at 4.0%, aligning with the U.S. Fed's decision.

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