Hong Kong share market finished session at a new 13-month low on Monday, 04 December 2023, as risk sentiments dampened amid persistent concerns over an economic slowdown of the world's second-largest economy after a string of weak economic readings.
China has reported mixed factory activity data for November, according to official and private surveys, raising doubts on whether recent stimulus measures are sufficient to bolster a fragile economic recovery. China is due to report trade and inflation data later this week.
At closing bell, the benchmark Hang Seng Index was down by 184.25 points, or 1.09%, to 16,646.05, its lowest level since November 10, 2022. The Hang Seng China Enterprises Index declined by 58.40 points, or 1.01%, to 5,703.33.
Among blue chips, Alibaba Group dropped 1.5% to HK$70.80 and online game operator NetEase sank 5.2% to HK$166.60. Chinese EV maker Li Auto slumped 3.3% to HK$141.70.
Wuxi Biologics tumbled 24% to HK$33.15 before trading was suspended pending the release of inside information. Earlier the drug maker released a business update that expects a ?challenging macroeconomic conditions? ahead. Its affiliate Wuxi Apptec slid 8.8% to HK$83.45.
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