Hong Kong equities fell 200 points, or 0.8%, to 26,078 in early trade on Friday, retreating for the third consecutive session as most sectors declined. Weak official PMI data from China in October weighed on sentiment, with factory activity contracting at the fastest pace in six months while the services sector remained subdued. Traders also remained cautious over the temporary U.S.-China trade truce, which leaves some structural issues unresolved. Meantime, investors vigilantly anticipate Hong Kong’s Q3 GDP report later today. On Wall Street, stocks closed lower overnight after Fed Chair Powell signaled that a December cut “is not a foregone conclusion” after a second rate reduction this year. Notable losses included SMIC (-4.5%), PICC Property & Casualty (-3.2%), Pop Mart Intl. (-2.8%), and Tencent Holdings (-1.5%). For the week, markets are on track for a slight decline, down around 0.3% so far, potentially marking the first monthly drop in six months, with losses nearing 3%.
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Australian Shares Trade FlatNovember 25, 2025
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