LIVE UPDATES
Closing the week on a somber note, Hong Kong stocks experienced further losses on Friday, driven by concerns over weak economic data from China and a US inflation figure surpassing expectations, thereby diminishing hopes for an early interest rate cut.
The Hang Seng Index recorded a decline of 0.35 percent, shedding 57.46 points and closing at 16,244.58. The downward trend reflects the persistent unease among investors, fueled by a combination of factors impacting both the domestic and global economic landscape.
China, the world's second-largest economy, contributed to the market jitters as weak economic indicators added to apprehensions about its overall economic health. Investors closely monitored data releases, and the subdued figures raised concerns about the potential impact on global markets.
Additionally, a US inflation report exceeded forecasts, dampening expectations of an imminent interest rate cut. The unexpected strength in inflation figures prompted a reassessment of market expectations, influencing investment decisions and contributing to the negative sentiment on the Hong Kong Stock Exchange.
The confluence of these economic factors underscores the interconnected nature of the global financial system and the ripple effects that developments in major economies can have on markets worldwide.
As the week concluded, investors grappled with uncertainties surrounding the trajectory of economic recovery and the potential policy responses from central banks. The closing figures of the Hang Seng Index signify the ongoing challenges faced by financial markets in navigating the complex and evolving economic landscape.
