Hong Kong stocks fall on mixed earnings results and prospect of China fiscal stimulus

Quick Summary:

Investors gear up for National People’s Congress Standing Committee meeting next week.

For the rally to be sustainable, legislators would need to approve at least 2 trillion yuan (US$280 billion) of fiscal stimulus, according to top investment banks.“The Hong Kong market doesn’t have much upside room now and is most likely to be rangebound, given the uncertainty of the earnings season and the rising US Treasury yields,” said Yan Zhaojun, an analyst at Zhongtai Securities.“Still, the market has hopes of fiscal stimulus, but is a bit conservative on the size and scope.

The loss was the most substantial since October 21.

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Article Details

Author / Journalist: Zhang Shidong

Category: Business

Markets: Hong KongChina

Topics: Fiscal Three Fell Hong Stimulus Cent Index Kong Gains Earnings China

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 10:39:10 (3 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 290 words

Reading Time: 2 minutes read

Sentences: 10 lines

Sentence Length: 29 words per sentence (average)

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Copyright Owner: © SCMP

News ID: 23369452

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