The Hold Seng Index prolonged its losses from the earlier week, falling 1.01% within the week ended November 22. The continued risk of US tariffs on Chinese language items and company earnings impacted demand for Hong Kong-listed shares.
Tech heavyweight Baidu (9888) reported its most notable income decline in two years. Alibaba (9988) additionally noticed important losses after information of PDD Holdings warning of accelerating e-commerce competitors.
The Hold Seng Tech Index (HSTECH) ended the week with a lack of 1.89%, after falling 7.29% the week earlier than. Baidu fell 6.81% this week, whereas Alibaba fell 7.45%.
Actual property shares additionally struggled because of uncertainty about coverage measures that will strengthen the housing market. The Hold Seng Mainland Properties Index ended the week down 4.34%.
On the mainland, US tariffs and considerations about China’s financial prospects weighed on inventory markets. The CSI 300 fell 2.60%, whereas the Shanghai Composite fell 1.91%.
Commodities: Gold rises amid geopolitical tensions
Commodity markets had a extra favorable week. The iron ore market rose 0.34%, regardless of considerations about US tariffs on China. An escalation of the battle in Ukraine boosted demand for gold, which rose 5.97% to finish the week at 2,716.
Russia threatened a nuclear response after Ukraine’s current missile assault, signaling a doable escalation of the continued battle.