28.08.202502:15:42UTC+00Hong Kong Stocks Fall for 3rd Session

Hong Kong stocks experienced a decline of 256 points, or 1.0%, to reach 24,943 during Thursday's morning trading session. This marks a continuation of losses for the third consecutive session and represents a one-week low, with prominent declines observed in the consumer, technology, and financial sectors. Market sentiment was negatively impacted, reportedly due to several Chinese brokerage firms and fund managers curtailing financing and restricting purchases to mitigate risks associated with mainland markets. This move has led to increased skepticism regarding the sustainability of the bullish trend seen since April. Additional concerns arose concerning Nvidia's business operations in China amidst ongoing trade tensions with Washington. Nonetheless, the extent of the decline was somewhat moderated by expectations of a potential interest rate cut by the Federal Reserve in September, following dovish remarks from Chair Powell last week and U.S. President Trump's efforts to sway monetary policy. On the corporate front, Meituan shares tumbled by 8.5% after revealing weaker-than-expected Q2 earnings, while BAIC Motor saw a 1.4% decline due to disappointing first-half results. Other significant decliners included Smoore International (-6.1%), Anta Sports (-5.7%), and Li Auto (-3.8%).