May 15 2025, 15:50
The Hang Seng fell 187 points or 0.8% to close at 23,453 on Thursday, reversing early gains and pulling back from a strong rally in the previous session. All sectors declined, weighed by tech, property, and consumer stocks. Sentiment weakened as mainland Chinese markets turned lower after a three-day bullish mood.
Caution also grew after Wednesday’s data showed a plunge to a 20-year low in China’s new bank loans for April, reflecting weak demand and ongoing pressure from the U.S.–China trade tensions. Even news that Beijing had rolled back a rare earth export ban amid easing trade disputes did little to lift sentiment.
Traders also stayed on edge ahead of Alibaba’s earnings report. Hang Seng Bank slipped 1.1% amid a business restructuring that will affect 1% of its core staff. Other notable decliners included KE Holdings (-5.0%), Meituan (-3.0%), and SMIC (-3.2%). On the upside, Geely Auto jumped 2.1% after reporting a strong surge in its quarterly profit.
Source: Trading Economics
