Hong Kong stocks were headed for a second consecutive monthly loss, as investors grappled with their disappointment in China’s fiscal stimulus plans and the prospect of fresh tariffs from the Trump administration.
The Hang Seng Index fell less than 0.1 per cent to 19,352.62 as of 10.08am local time, taking the decline for the month to 4.7 per cent following a 3.9 per cent drop in October. The Hang Seng Tech Index gained 0.1 per cent.
On the mainland, the CSI 300 Index climbed 0.4 per cent and the Shanghai Composite Index added 0.2 per cent.
Meituan, China’s largest on-demand delivery firm, added 0.1 per cent to HK$172.30 ahead of its quarterly earnings release later on Friday. Macau casino operator Sands China rose 1.9 per cent to HK$19.36 and peer Galaxy Entertainment advanced 1.7 per cent to HK$33.75.
Sentiment on Hong Kong stocks took a beating this month, with a slew of headwinds for China’s growth outlook. Investors were disappointed by Beijing’s plan to issue special government bonds to help local governments get their debts under control. Days later, Donald Trump won the US presidential election and earlier this week, he said he would impose an additional 10 per cent tariff on goods from China as well as a 25 per cent levy on all imports from Canada and Mexico.
Mokingran Jewellery Group, a jewellery producer, rose 2.5 per cent to HK$12.32 on its first day of trading in Hong Kong.
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