Hong Kong Stocks Closed in Red on Thursday on Underwhelming Stimulus from Beijing, Looming U.S. Tariff Threats

MT Newswires Live11-14 16:34

Hong Kong stocks fell on Thursday to close in red as the possible higher tariffs from the newly elected Trump administration weighed on investors.

Beijing's recent response package hasn't been warmly welcomed as well, as the investors and traders expect and require stronger stimulus to revive their confidence in the economy.

The Hang Seng Index fell by 1.96%, or 387.64 points, to close Thursday's session at 19,435.81. The Hang Seng China Enterprises Index fell by 2.21%, or 157.85 points, to close at 6,973.08.

In corporate news, China Aluminum International Engineering's (HKG:2068, SHA:601068) subsidiary Shenyang Aluminum led a consortium to sign a general contracting deal for the 350,000-ton green aluminum project in Tongliao City, Inner Mongolia, worth about 2.80 billion yuan. However, the shares of the company fell nearly 3% on Thursday's close.

Sa Sa International Holdings (HKG:0178) reported a profit for the period attributable to owners of HK$32.4 million for the six months ended Sept. 30, compared with HK$102.4 million in the prior year quarter, raising the company's shares by over 3% on Thursday's close.

Tam Jai International (HKG:2217) reported a profit of HK$36.1 million for the six months ended Sept. 30, a 56% decrease, compared with the profit of HK$81.6 million in the previous year, leading a decline of nearly 3% in the company's shares on Thursday's close.

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