HK slips as summit pessimism dogs mainland stocks
Mainland stocks logged their worst day in a month on Thursday as investors remained sceptical that a meeting between President Xi Jinping and his US counterpart, Donald Trump, in Washington would produce a broader breakthrough. In Hong Kong, the benchmark Hang Seng Index lost 72 points, or 0.29 percent, to end at 24,761. The tech index was almost 18 points, or 0.41 percent, down at 4,361 while…
The mainland Chinese stock market experienced its worst day in a month on Thursday, with investors skeptical about the outcomes of President Xi Jinping's meeting with US President Donald Trump in Washington. Hong Kong's Hang Seng Index lost 72 points, or 0.29%, to close at 24,761, while tech and China enterprises indices also saw declines.
In contrast, energy, banking, and shipping stocks in Hong Kong managed to outperform and offset some of the losses. The broader market sentiment remained cautious, with both the Shanghai Composite Index and Shenzhen Component Index marking their biggest one-day drops in a month. The absence of Chinese business leaders during Xi's visit to the US was also seen as a negative factor.
Despite the pessimism, some investors remain cautiously optimistic about the future of US-China relations, particularly in the context of AI development and chip-export controls.
Brief written by urgent.news from RTHK News - Finance's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
