FX.co ★ Hong Kong Equities Poised to End Month on a Muted Note

Hong Kong's stock market witnessed a decline of 65 points, or 0.3%, falling to 25,884 during Friday morning trading. This downturn interrupted a four-day upward trend, primarily due to losses in real estate and financial sectors. Investors exhibited caution in anticipation of China's official November Purchasing Managers' Index (PMI) figures expected over the weekend. October's data had previously indicated that manufacturing activity continued its contraction for a seventh consecutive month, and the services sector showed no significant improvement. As the year-end approached, concerns about market volatility remained prevalent. Meanwhile, in the United States, the markets were poised for a shortened session, as trading resumed after the Thanksgiving holiday on Thursday. However, declines in Hong Kong were somewhat tempered by Beijing's recent measures aimed at stimulating consumption, including initiatives to encourage upgrades in consumer goods. Leading the early decliners were Innovent Biologics, which fell 2.8%, Alibaba Health with a 2.6% decline, China Overseas Land decreasing by 2.3%, and Swire Properties dropping 2.0%. For November, the Hang Seng Index is expected to conclude with little movement as investors await China's Central Economic Work Conference in December. Nevertheless, it has recorded a weekly gain of approximately 2.5% so far.