Jan 2, 202511:31GMT+7
China and Hong Kong stocks fell on their first trading session of 2025, hurt by weaker-than-expected Chinese factory activity data, while investors awaited more policy support.
** China's blue-chip CSI 300 Indexdropped 1.4% by the lunch break, while the Shanghai Composite Indexlost 1.1%. Hong Kong benchmark Hang Sengwas down 1.5%.
** China's factory activity grew in December but at a slower-than-expected pace, missing investors' expectations, as overall sales were dampened by falling export orders amid concerns over the trade outlook, a private-sector survey showed.
** Chinese stocks registered their first annual gain in 2024 following an unprecedented three-year decline, as a package of stimulus policies lifted investor sentiment.
** "The equity market's performance will largely depend on the strength of upcoming policies," said analysts at Huaxi Securities in a note.
** "Uncertainties surrounding potential tariff increases by the Trump administration could affect exports. Boosting domestic demand remains crucial for fundamental recovery."
** Many market participants expect the market will lack clear direction until the National People's Congress in March, where the government's growth target and stimulus measures will be announced.
** China's central bank kicked off a second round of operations this week under a newly-created funding scheme for financial institutions to aid the country's stock market.
** On Thursday, financial (.CSIFN) and techshares led the declines, falling 1.8% and 2.6% respectively.
** Real estate stocksretreated 0.7%, despite prices of new homes in China rising at a slightly faster pace in December.
** Small stock index CSI 2000 was one of the few bright spots, up 0.6%, as retail investors often favour small stocks for potentially quick gains despite the risks involved.
** Hypermarket chain Sun Art shareswere down nearly 17%, after Alibabasaid on Wednesday it had agreed to sell its majority stake in the company to Chinese private equity firm DCP Capital. Alibaba stocks slipped 0.7%.
** Tech giants traded in Hong Kongwere down 1.5%.

Sumber : Reuters