Hong Kong Stocks Slip, Index Headed for Weekly Loss

South China Morning Post06-14

Hong Kong stocks were weak on Friday, with the benchmark seen heading for a weekly loss as investors turned cautious before the release of China’s key economic numbers for May.The Hang Seng Index fell...

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TigerVision888
06-14
TigerVision888
Slip slip slip, slip for the 4th year and ongoing.

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The Hang Seng Tech Index dropped 0.85 per cent and the Shanghai Composite Index retreated 0.2 per cent.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/71e09a55735fc3aadb58feb1f0647419\" tg-width=\"946\" tg-height=\"145\"/></p><p>China’s statistics bureau is due to announce industrial production, retail sales and fixed-asset investment data on Monday. The central bank may also release the figures on new lending and aggregate financing as early as Friday.</p><p>Jewellery retailer Chow Tai Fook tumbled as much as 10.5 per cent but recovered to trade down 7.1 per cent at HK$8.79 amid worries about its dividend payout and sales, after it unveiled its earnings for the year to 31 March 2024 and provided operational updates for the current year.</p><p>“We expect weaker-than-expected dividend and poor sales in April and May to weigh on share price,” said Citigroup analysts in a note. “Dividend payout of 63 per cent based on core earnings was below our expectation of 76 per cent.”</p><p style=\"text-align: start;\">Alibaba Group Holding slipped 1.8 per cent to HK$73.15 and Hong Kong Exchanges and Clearing dropped 1.6 per cent to HK$259.60.</p><p style=\"text-align: start;\">Cloud Factory Technology Holdings, which offers network data services, fell 3.3 per cent from its IPO price to HK$4.45 on its trading debut in Hong Kong.</p><p style=\"text-align: start;\">Other major Asian markets were broadly weaker. Japan’s Nikkei 225 slipped 0.2 per cent before Bank of Japan’s policy meeting and Australia’s S&amp;P/ASX 200 lost 0.3 per cent, while South Korea’s Kospi was flat.</p></body></html>","source":"lsy1600132093512","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hong Kong Stocks Slip, Index Headed for Weekly Loss</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHong Kong Stocks Slip, Index Headed for Weekly Loss\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-14 10:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.scmp.com/business/china-business/article/3266555/hong-kong-stocks-slip-index-headed-weekly-loss-chinas-key-economic-data><strong>South China Morning Post</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Hong Kong stocks were weak on Friday, with the benchmark seen heading for a weekly loss as investors turned cautious before the release of China’s key economic numbers for May.The Hang Seng Index fell...</p>\n\n<a href=\"https://www.scmp.com/business/china-business/article/3266555/hong-kong-stocks-slip-index-headed-weekly-loss-chinas-key-economic-data\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSTECH":"恒生科技指数","HSI":"恒生指数"},"source_url":"https://www.scmp.com/business/china-business/article/3266555/hong-kong-stocks-slip-index-headed-weekly-loss-chinas-key-economic-data","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148371759","content_text":"Hong Kong stocks were weak on Friday, with the benchmark seen heading for a weekly loss as investors turned cautious before the release of China’s key economic numbers for May.The Hang Seng Index fell 0.64 per cent to 17,996.68, taking its weekly loss to about 2 per cent. The Hang Seng Tech Index dropped 0.85 per cent and the Shanghai Composite Index retreated 0.2 per cent.China’s statistics bureau is due to announce industrial production, retail sales and fixed-asset investment data on Monday. The central bank may also release the figures on new lending and aggregate financing as early as Friday.Jewellery retailer Chow Tai Fook tumbled as much as 10.5 per cent but recovered to trade down 7.1 per cent at HK$8.79 amid worries about its dividend payout and sales, after it unveiled its earnings for the year to 31 March 2024 and provided operational updates for the current year.“We expect weaker-than-expected dividend and poor sales in April and May to weigh on share price,” said Citigroup analysts in a note. “Dividend payout of 63 per cent based on core earnings was below our expectation of 76 per cent.”Alibaba Group Holding slipped 1.8 per cent to HK$73.15 and Hong Kong Exchanges and Clearing dropped 1.6 per cent to HK$259.60.Cloud Factory Technology Holdings, which offers network data services, fell 3.3 per cent from its IPO price to HK$4.45 on its trading debut in Hong Kong.Other major Asian markets were broadly weaker. Japan’s Nikkei 225 slipped 0.2 per cent before Bank of Japan’s policy meeting and Australia’s S&P/ASX 200 lost 0.3 per cent, while South Korea’s Kospi was flat.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":10,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1148371759"}