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Thursday, January 02
2 weeks ago
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SCMP
Credited from: SCMP
Hong Kong stocks experienced a weak start to 2025 trading, reflecting investors’ apprehensions about China’s economic recovery and the global economic environment. As of 10:16 AM local time, the Hang Seng Index dropped 2.5 percent to 19,560.32 while the Hang Seng Tech Index fell 2.4 percent. Similarly, the CSI 300 Index on the mainland retreated by 1.6 percent.
Among the major losers were Xinyi Solar Holdings, which declined 6.1 percent to HK$2.95, and Semiconductor Manufacturing International Corp, down 4 percent to HK$30.50. The recent data showed the Caixin manufacturing purchasing manager's index fell to 50.5 in December, lower than expectations of 51.7, indicating slowdowns in growth.
Despite a brief recovery with the Hang Seng Index gaining 0.7 percent later in the week, it was set for its steepest weekly decline in nearly two months, reflecting investor nervousness. Concerns over a deflationary trend in China and the impending economic policies of the incoming Trump administration contributed to the risk-averse sentiment among investors ([SCMP](https://www.scmp.com/business/china-business/article/3293232/hong-kong-stocks-course-steepest-weekly-decline-nearly-2-months)).
As the markets navigate this tumultuous landscape, cautious investors have turned to fixed-income products, with the yield on China’s benchmark 10-year government bond surpassing 1.6 percent for the first time.
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