
Hong Kong stocks slip as investors await Beijing briefing on economic growth
Advertisement
The Hang Seng Index dropped 0.5 per cent to 21,882.57 as of 9.45am local time. The Hang Seng Tech Index lost 0.2 per cent.
On the mainland, the CSI 300 Index slipped 0.2 per cent and the Shanghai Composite Index dropped 0.3 per cent.
BYD Electronic International fell 6.6 per cent to HK$32.45, while electric-vehicle maker BYD slid 4.6 per cent to HK$29.40. Ping An Insurance Group declined 2.2 per cent to HK$44.95, and China Resources Land dropped 3.1 per cent to HK$26.25.
On the flip side, e-commerce giant JD.com rose 1.7 per cent to HK$125.90, Sinopharm gained 2 per cent to HK$17.76 and Wuxi Biologics rose 1.1 per cent to HK$23.05.
Advertisement
Retail broker Bright Smart Securities surged 34.8 per cent to HK$4.11 after it resumed trading following an announcement that mainland China's online payment giant
Ant Group agreed to buy a controlling stake
Multiple Chinese agencies are set to hold a joint briefing at 10am local time to discuss policies and measures on stabilising employment, ensuring stable growth and promoting high-quality development. The National Development and Reform Commission, Ministry of Human Resources and Social Security, Ministry of Commerce and the People's Bank of China are in the line-up.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


HKFP
2 hours ago
- HKFP
Fraudsters stole Asia Miles and accessed data from 1,000 loyalty accounts, airline Cathay Pacific says
Airline Cathay Pacific has apologised after customer data was breached and frequent flyer miles were stolen from some Asia Miles accounts. Personal particulars and travel details were exposed, though no credit card information was at risk, the flagship carrier said in a Thursday statement. 'Our preliminary investigation suggests that Asia Miles theft by unauthorised parties was the primary motivation, though the misuse of personal data remains a possibility,' the statement said. 'We have identified that approximately 1,000 Cathay accounts, most of which belong to Hong Kong-based members, were impacted by this incident,' the carrier added. Cathay said that it has already been in touch with the majority of affected members, reinstated their lost Asia Miles and restored their accounts. Remaining members are being identified, and their accounts have been temporarily locked for security purposes. Cybersecurity incidents The incident was reported to the authorities, including The Office of the Privacy Commissioner for Personal Data, Cathay said. On Monday, Hongkong Post said that a cyberattack on its online shipping portal may have exposed the personal data of senders and recipients. The PCPD, Hong Kong's privacy watchdog, said in November that 70 per cent of Hong Kong companies had experienced some form of cyberattack in the past year. In March, Hong Kong lawmakers passed a law meant to enhance safeguards for the city's key infrastructure systems against cyberattacks, imposing fines of up to HK$5 million for cybersecurity lapses.


RTHK
4 hours ago
- RTHK
'US Unesco exit gives way to Chinese leadership'
'US Unesco exit gives way to Chinese leadership' Economist Jeffrey Sachs says Hong Kong can contribute to regional sustainable growth by utilising its role in the Greater Bay Area. Photo: RTHK A prominent US economist on Thursday said that Washington's decision to exit Unesco for the third time will allow China to play a bigger role in leading global sustainability development, while Hong Kong would also be able to grasp opportunities. The comments came after Washington earlier announced the decision to leave the UN's cultural and education agency, saying that the institution's work to "advance divisive social and cultural causes" goes against its "America First" policy. Delivering a keynote speech in Hong Kong on sustainable development, Jeffrey Sachs, an economics professor at Columbia University, said that the US exit will have consequences in the coming years. "My basic belief is that the rest of the world has to get on with it, and the rest of the world has to say, we go on for our planet, we expect you to return. "[But] I wouldn't mind if someone keeps a tally of everything the US owes that it's not paying, so that there's a bill at the end of this self-imposed isolation," he said. "I do believe that China has a unique role to play, and China has the capacity that the world needs for transformation," he added. Pointing to China's massive industrial chain, he said the nation could increase exports in areas such as solar power to emerging markets and developing nations to turbocharge the global energy transition. Separately, Sachs also noted that Hong Kong will be able to contribute to regional sustainable growth by utilising its role in the Greater Bay Area. "There are a few financial centres around the world that have the potential to play a major role in sustainable development finance, and I think Hong Kong is the best-placed of all of them," he said. "Dubai cannot do this, Singapore can't do this, because the physical investment [for such large scale projects] is going to come from China". The forum, organised by the Hong Kong Association of External Friendship, took place at the Convention and Exhibition Centre, attracting some 300 participants.


RTHK
7 hours ago
- RTHK
HK stocks buoyed by signs of easing Sino-US tensions
HK stocks buoyed by signs of easing Sino-US tensions The Hang Seng Index ended the day up 129 points, or 0.51 percent, at 25,667. File photo: RTHK Mainland and Hong Kong stocks rose on Thursday as rare earth and tourism shares rallied as signs of easing China-US tensions lifted investor sentiment. In Hong Kong, the benchmark Hang Seng Index ended the day up 129 points, or 0.51 percent, at 25,667, the highest close since November 2021. Leading gains onshore, the rare earth sector surged 5.2 percent to a fresh three-year high. The tourism sector rose 3.4 percent, while China tourism group duty free index jumped by the 10 percent daily trading limit following a launch plan for the Hainan Free Trade Port. Chinese stocks have been steadily rising in recent weeks, buoyed by Beijing's efforts to curb excessive competition and overcapacity and signs of improving China-US trade relations. Up north, the benchmark Shanghai Composite Index rose 0.65 percent to 3,605 while the Shenzhen Component Index was up 1.21 percent at 11,193. The combined turnover of these two indexes stood at over 1.84 trillion yuan, down from 1.86 trillion yuan on Wednesday. Stocks related to Hainan Free Trade Port, rare-earth permanent magnet and lithium mineral led gains while stocks related to precious metal and banks suffered major losses. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 1.5 percent to close at 2,345. The Shanghai Composite Index has surged nearly 19 percent from its most recent low in April, nearing the 20 percent gain used to define a technical bull market. "Although there hasn't been any unexpected change in the top-down macroeconomic picture, there are still many structural opportunities within the stock market," analysts at Cinda Securities said in an note. Fresh signs of easing trade tensions between Beijing and Washington also helped lift sentiment. US President Donald Trump said on Wednesday that the United States was in the process of completing a trade deal with China. Around the region, MSCI's Asia ex-Japan stock index was up 0.3 percent, while Japan's Nikkei index gained 1.6 percent. (Reuters/Xinhua)