The Hang Seng Index dropped 250 points, or 1.0%, to 24,590 on Tuesday, ending a two-session winning streak as investors locked in gains after the market’s strong start to the week. Sentiment was further weighed down by caution ahead of key Chinese economic data releases—covering industrial production, retail sales, housing prices, and unemployment—which are expected to provide fresh clues on the strength of the country’s economic recovery.
Additional pressure came from weakness in financial and technology shares, both of which retreated after leading the previous session’s advance. Knowledge Atlas slipped 2.9% as investors took profits following its nearly 33% surge in the prior session. Other notable decliners included Tencent Holdings (-1.4%), Semiconductor Manufacturing International Corporation (-0.4%), AIA (-1.0%), MMG (-10.3%), and China Hongqiao Group (-4.0%).
