16.12.202508:28:49UTC+00Hang Seng Drops Further to End at Near 4-Week Low

The Hang Seng index experienced a decline of 393 points, or 1.5%, settling at 25,217 on Tuesday, marking its lowest close in nearly four weeks. This continued the sharp decline from the previous session as mainland stocks fell further and investors grew increasingly anxious in anticipation of key U.S. economic data expected later this week. Concurrently, China's economy exhibited further signs of deceleration in November, with both industrial output and retail sales falling short of expectations. The real estate sector led the downturn amid concerns of a sustained slowdown. This was highlighted by China Vanke's announcement of a second bondholder meeting following its inability to secure approval to defer a bond payment due on Monday. Technology, consumer, and financial stocks also experienced declines, lacking momentum after major policy meetings in China concluded last week. Nonetheless, the losses were tempered by local data indicating that Hong Kong achieved its strongest Q3 manufacturing growth in nearly three years. Xiaomi saw a 2% decrease due to smartphone challenges, while notable laggards included Zijin Gold with a 5.9% drop, Tencent Music at 3.4%, China Hongqiao at 2.9%, and SMIC at 2.2%.