Hong Kong Stocks Fall Amid Caution Ahead of Delayed US Data; CNGR Advanced Material Ends Flat in Debut

MT Newswires Live11-17

Hong Kong equities declined on Monday as investors grew cautious ahead of long-delayed U.S. data releases and amid uncertainty over the Federal Reserve's next rate move.

The Hang Seng Index lost 188.18 points, or 0.7%, to end at 26,384.28, while the Hang Seng China Enterprises Index fell 69.56 points, or 0.7%, to 9,328.40.

The U.S. Commerce Department's Bureau of Economic Analysis said on Friday it is working to update its schedule for economic data releases affected by the recently ended government shutdown.

White House economic adviser Kevin Hassett said that October's employment report will be released without the jobless rate, as households were not interviewed during the shutdown period to gather the necessary information.

Meanwhile, several Fed officials have signalled that borrowing costs may remain unchanged next month, citing persistent inflation risks and the need for a clearer reading on the labour market, according to media reports.

In corporate news, CNGR Advanced Material (HKG:2579, SHE:300919) made its Hong Kong trading debut, finishing at HK$33.96, little changed from its offer price of HK$34.00.

Geely Automobile (HKG:0175) slipped nearly 2% despite reporting a 59% jump in third-quarter profit.

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