Hong Kong Stocks Retreat
The Hang Seng Index fell 0.9%, or 215 points, to 24,873 on Wednesday, reversing a modest gain in the previous session as investors took profits in technology stocks and remained cautious ahead of the expected meeting between Chinese President Xi Jinping and US President Donald Trump. The decline followed three consecutive sessions of gains, with technology shares leading the rebound. Investors are watching the talks for signals on trade, semiconductors, artificial intelligence and supply chains, with AI emerging as a key area of strategic competition between the world's two largest economies. Meanwhile, Brent crude fell below $100 a barrel, offering some relief from recent inflation concerns. Finance, technology services and retail trade stocks led the decline, with Tencent (-1.1%), AIA (-1.3%), Xiaomi (-1.0%) and Shanghai Iluvatar CoreX (-5.2%) among notable laggards. Alibaba also remained in focus after its September 23 AGM voting-results disclosure.
9%, or 215 points, to 24,873 on Wednesday, reversing a modest gain in the previous session as investors took profits in technology stocks and remained cautious ahead of the expected meeting between Chinese President Xi Jinping and US President Donald Trump. The decline followed three consecutive sessions of gains, with technology shares leading the rebound. Investors are watching the talks for signals on trade, semiconductors, artificial intelligence and supply chains, with AI emerging as a key area of strategic competition between the world's two largest economies. Meanwhile, Brent crude fell below $100 a barrel, offering some relief from recent inflation concerns.
2%) among notable laggards. Alibaba also remained in focus after its September 23 AGM voting-results disclosure.