HK stocks fall as mainland edges up on policy pledges
Mainland stocks closed slightly up on Tuesday after the country's cabinet pledged to step up counter-cyclical policy support to address rising economic strains, though trading remained thin ahead of the upcoming National Day Golden Week holiday. In Hong Kong, the benchmark Hang Seng Index fell 118 points, or 0.5 percent, to 24,523 on turnover of HK$184.63 billion. The tech index was 46 points, or…
On Tuesday, mainland stocks saw a slight increase as the country's cabinet pledged to strengthen counter-cyclical policy support amid rising economic strains, although Hong Kong's benchmark Hang Seng Index fell 0.5%, closing at 24,523 points. The tech index in Hong Kong also declined 1.1%, while the China enterprises index slipped 0.5%. Fast-fashion platform Shein Global Holdings saw its shares reach their lowest level since its debut on September 1.
Mainland stocks, including the Shanghai Composite Index, Shanghai Component Index, and ChiNext Index, showed gains, while Hong Kong's shares fell. Analysts from Goldman Sachs expect policymakers to further use housing provident funds and introduce local housing easing measures to stabilize the property market. Rising US Treasury yields and insufficient liquidity contributed to the negative market sentiment.
The turnover on China's Shanghai and Shenzhen exchanges was the lowest since July 7, 2025. Tokyo's Nikkei 225 benchmark fell for a second consecutive day, and the broader Topix lost value as well. Seoul's Kospi index also declined for the second day in a row.
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