FX.co ★ Hong Kong Shares Muted

On Thursday morning, Hong Kong stocks remained relatively stable, trading around the 25,895 mark following a rally on Wednesday. Financial sectors experienced slight gains; however, momentum was limited due to weaknesses in the property and technology sectors. Investors are focusing on important Chinese economic indicators expected next week, such as September's industrial output, retail sales, third quarter GDP, and the monthly loan prime rate. The Consumer Price Index (CPI) and Producer Price Index (PPI) for September continue to highlight persistent deflationary pressures in China, as ongoing struggles in the property market and trade tensions negatively impact consumer and business confidence. Globally, U.S. futures were muted as investors balanced strong corporate earnings against escalating U.S.-China trade tensions. U.S. Treasury Secretary Scott Bessent hinted at a potential extension of pauses on Chinese import duties, contingent upon China refraining from implementing new rare-earth export controls. In the stock market, shares related to gold saw gains, with Laopu Gold rising by 6.2%, Zijin Gold International by 3.3%, and Zhijin Mining by 1.9%. On the downside, Sun Hung Kai Properties fell by 3.0%, Xiaomi by 2.8%, and XPeng by 2.6%, thereby exerting downward pressure on the market.