HK bounces back as regionals continue to weaken
Mainland stocks extended losses on Friday, tracking broad weakness across global markets, as a selloff in tech shares on Wall Street weighed on investor sentiment. In Hong Kong, the benchmark Hang Seng Index rebounded back above 23,000 to open up 93 points, or 0.41 percent, at 23,027. The China Enterprises Index was 55 points, or 0.72 percent, higher at 7,744 while the tech index moved 19 points,…
Hong Kong's stock market rebounded on Friday after mainland Chinese stocks continued to weaken on a broader global downturn. The Hang Seng Index recovered above 23,000, marking a 0.41% gain to 23,027. The China Enterprises Index and tech index also rose by 0.72% and 0.51%, respectively, to close at 7,744 and 3,813. In contrast, Shanghai Composite and CSI300 indexes slipped by 0.94% and 1.1%, respectively, extending their recent downward trend from their lowest close since July 2025 and weakest levels in over a year.
The CSI300 has now fallen over 20% from its June 22 peak, potentially signaling a bear market according to some definitions. Analysts attribute the market dip to a selloff in tech stocks, Middle East tensions, and French sovereign debt stress, driving a risk-off trend globally. Japanese and South Korean markets also suffered, with Nikkei and Kospi dropping by 0.38% and 2.36% respectively.
Written by urgent.news from RTHK News - Finance's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
