HONG KONG STOCK INDEX (HSI)
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Hang Seng
The Hang Seng fell 112 points or 0.6% to end at 19,753 on Thursday after an upbeat session the day before, dragged by widespread falls across sectors. Investors resisted the drive to enter new positions after the US Fed cut borrowing costs for the third time this year but warned it would ease the pace of rate reductions next year.
Meanwhile, cautious traders awaited a monthly fixing of key lending rates in China Friday after record low levels in November. Markets trimmed early losses, on reports that battery maker CATL is mulling a second listing in Hong Kong to raise USD 5 billion, potentially the city’s biggest public offerings since early 2021.
Regarding fiscal measures, significant support is anticipated in China for 2025 to bolster an economic turnaround.
Sunac China Hlds. slipped 2.5%, as the property builder initiated arbitration proceedings against Wanda Group. Other decliners included WH Group Ltd. (-3.8%), Trip.com(-3.1%), Henderson Land Dev. (-2.9%), and MTR Corp. (-2.6%).
(News Source: Tradingeconomics)
Plan A: Long if market supported firm above 19,780. Targets are 19,936/20,060. Take reasonable stop loss for each trade.
Plan B: Short if market resilient to 19,780. Targets are 19,634/19,442. Take reasonable stop loss for each trade.
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