FX.co ★ Hong Kong Stocks Extend Falls

Hong Kong stocks experienced a decline of 66 points or 0.3%, reaching 25,438 during early trading on Wednesday. This marks the second consecutive session of losses, following a weak performance from Wall Street the previous night. Investors remain cautious due to the recent federal appeals court decision declaring the majority of President Donald Trump’s tariff measures as illegal. Additionally, a further decrease in mainland shares affected market sentiment, despite positive news from a private survey indicating China’s composite PMI reached a nine-month high in August. This suggests a continued three-month trend of private sector growth, supported by widespread gains in both manufacturing and services. The real estate sector was notably impacted, with Swire Properties falling by 3.4%, Henderson Land Development by 2.9%, and China Overseas Land by 0.9%. Conversely, technology and consumer sectors saw upward movement, as markets anticipate Chinese President Xi Jinping’s highly anticipated address at the nation’s largest military parade to date, which is attended by Russia's Vladimir Putin and North Korea's Kim Jong Un.