18.12.202502:15:14UTC+00Hong Kong Stocks Edge Lower

Hong Kong stocks dipped 53 points, or 0.2%, settling at 25,416 during Thursday morning's trading session. This decline wiped out the gains made in the previous session as Wall Street's overnight performance registered a sharp downturn amidst ongoing concerns about AI valuations and apprehension preceding the November inflation data release. Similarly, stocks on the mainland showed subdued activity following their rally on Wednesday, as investors awaited China's foreign direct investment (FDI) data for the first 11 months, due to be released later today. From January to October, FDI decreased by 10.3% year-over-year, mirroring a 2-1/2-year downtrend driven by both external and domestic challenges. Furthermore, Hong Kong's inflation data for November is anticipated next week, following October's increase to a four-month peak of 1.2%. Sector performance revealed that technology and consumer goods bore the brunt of the decline, whereas modest gains in the financial sector helped limit the overall market losses. Among the prominent underperformers were Xiaomi Corp. (-2.6%), Pop Mart Intl. (-2.4%), Chow Tai Fook Jewellery (-2.2%), and XPeng (-2.1%).