Hang Seng falls 0.4% after reversing early gains
Hang Seng reversed earlier gains and closed down 0.4% (98 points) at 25,213 on Thursday. Early strength in technology and financials faded into weaker sentiment toward the close.
The Hang Seng Index fell 0.4%, or 98 points, to close at 25,213 on Thursday, reversing earlier gains as investors took profits and sentiment weakened toward the close.
The benchmark had risen as much as 0.7% in early trading, supported by strength in technology and financial stocks, but the gains failed to hold.
Technology stocks remained in focus as mainland Chinese investors continued to shift funds into Hong Kong-listed AI and technology names, including Alibaba, Tencent and MiniMax.
Meanwhile, Shein Global Holdings dropped 8.7% on its third day of trading in Hong Kong, extending its weak post-listing performance.
Investors also remained cautious ahead of key US employment data due Friday, which could provide further clues on the Federal Reserve’s interest-rate outlook.
Lower oil prices and softer bond yields provided some support to regional markets, but concerns surrounding global growth and geopolitical risks continued to weigh on sentiment.