Hong Kong stocks slipped 32 points, or 0.1%, to 25,897 in Wednesday morning trading, erasing gains from the previous two sessions as weakness in technology and consumer names weighed on the market. Sentiment was dented by a fifth consecutive decline in mainland Chinese indices, with traders turning cautious ahead of Friday’s decision on benchmark lending rates. Those rates have been kept at record lows for nine straight months to support economic growth.
In the U.S., the Federal Reserve is widely expected to leave policy unchanged later today while releasing its first projections for 2026, against a backdrop of heightened volatility in oil markets linked to the war involving Iran. The conflict is also casting a shadow over the planned Trump–Xi summit later this month, as Washington presses Beijing to help reopen the Strait of Hormuz.
On the local data front, February unemployment figures are due for release today, followed by fourth-quarter current account and inflation statistics. Early decliners included Tencent Music Entertainment (-21.4%), Kingboard Laminates (-5.9%), Prada (-3.6%), and China Resources Land (-1.7%).
