05.11.202508:14:05UTC+00Hang Seng Trims Losses at Finish

The Hang Seng Index experienced a decline of 17 points, or 0.1%, closing at 25,935 on Wednesday, signaling a continuation of losses for the second consecutive session. This downturn was influenced by valuation concerns that had previously impacted Wall Street on Tuesday. The decrease was primarily driven by a decline in tech and property shares, with investors exercising caution ahead of significant Chinese economic data releases, including October trade figures expected on Friday and inflation data anticipated on Sunday. According to a private survey, China’s services sector saw its slowest growth in three months in October, attributed to weak foreign demand and ongoing job reductions. Market losses were tempered after Chinese Premier Li Qiang confidently predicted that China’s economy would surpass CNY 170 trillion within the next five years. Additionally, Beijing announced the suspension of a 24% additional tariff on U.S. goods for one year, as well as the elimination of duties of up to 15% on certain U.S. agricultural imports starting November 10, though soybeans are excluded from this tariff relief. Among the notable decliners were electric vehicle manufacturers Chery, which fell by 3.7%, Xpeng, which dipped by 1.4%, and Li Auto, down by 0.6%. Other significant laggards included Prada, decreasing by 3.3%, SenseTime, which dropped by 3.1%, and Sunny Optical Technology, which fell by 2.2%.