Media365
Hong Kong stocks slipped on Monday, snapping a two-day rebound, as investors remained cautious about the US Federal Reserve’s decision on interest rate cuts and awaited clearer policy direction ahead of China’s Central Economic Work Conference later this month.
The Hang Seng Index lost 1 per cent to 25,827.26 as of 11.15am local time. The Hang Seng Tech Index rose 0.1 per cent. On the mainland, the CSI 300 Index gained 1 per cent and the Shanghai Composite Index strengthened 0.6 per cent.
Blind-box toymaker Pop Mart International slumped 7.7 per cent to HK$202.20, while biotechnology firm Innovent Biologics tumbled 7.8 per cent to HK$84.80. WeChat operator Tencent Holdings lost 0.8 per cent to HK$605.
Limiting the losses, search-engine giant Baidu jumped 3.6 per cent to HK$126 after it said it is assessing a spin-off listing for its non-wholly owned unit, Kunlunxin (Beijing) Technology. Chinese chipmaker Semiconductor Manufacturing International Corporation advanced 3.5 per cent to HK$72.20, while food-delivery service provider Meituan added 0.5 per cent to HK$99.50.
While the markets widely expected a rate cut this Wednesday, some analysts said the path would be more uncertain next year. Investors are also closely watching for policy clues from the coming economic conference in Beijing, which is expected to set priorities for 2026.
Markets are looking for signals on support measures for technology, consumption and property. Traders are also weighing domestic earnings prospects against lingering concerns about global interest rate policies and geopolitical risks.
