Hong Kong stocks fall from 1-month high as investors await Tencent earnings, China data



Hong Kong stocks retreated from a one-month high on Thursday as investors held off bets ahead of quarterly results from tech bellwethers Tencent Holdings and JD.com, and an array of Chinese economic data for November.

The Hang Seng Index fell 0.1 per cent to 26,888.09 as of 10.06am local time. The Hang Seng Tech Index dropped 0.7 per cent. On the mainland, the CSI 300 Index climbed 0.4 per cent and the Shanghai Composite Index added 0.2 per cent.

Tencent slipped 0.8 per cent to HK$652, with its earnings likely to show profit growth slowed to 5 per cent in the three months to September from the preceding quarter. E-commerce giant JD.com lost 2.2 per cent to HK$122. Alibaba Group Holding slid 1.7 per cent to HK$154.10.

Tencent and JD.com are due to disclose their third-quarter report cards after the market close on Thursday. China’s statistics bureau will release key monthly economic figures on Friday morning. Retail sales and industrial production probably moderated in November, while growth in fixed-asset investment might have stagnated, according to economists’ estimates surveyed by Bloomberg.

Elsewhere in Asia-Pacific, Japan’s Nikkei 225 climbed 0.3 per cent, South Korea’s Kospi rose 0.2 per cent, while Australia’s S&P/ASX 200 lost 1.1 per cent.

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