"China and Hong Kong Stocks Stumble into 2024 Amid Economic Uncertainty and US Rate Concerns"
TL;DR Summary
Hong Kong stocks have opened 2024 with a decline, continuing a four-year losing streak, as China's manufacturing activity contracts for the third consecutive month and home sales plummet. The Hang Seng Index fell by 1.5%, with significant losses in tech and real estate shares, including Alibaba and Longfor Group Holdings. The downturn reflects broader economic challenges in China, despite President Xi Jinping's commitment to reforms and growth. Other Asian markets, however, experienced gains on the same day.
Topics:business##chinaeconomy#finance-and-business#hongkongstocks#manufacturingpmi#realestate#techsector
- Hong Kong stocks start 2024 on a weak note, extending a 4-year losing streak South China Morning Post
- China Stocks Fall to Start 2024 After Economic Data Disappoints, Again The Wall Street Journal
- Hong Kong stocks fall to 1-week low on jitters about China's economy, US rates South China Morning Post
- China Stocks See Worst Start to Year Since 2019 on Economic Woes Yahoo Finance
- Shanghai Composite Index Fell 0.43% on Tuesday Caixin Global
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