Longfor Group Holdings fell 7% to HK$11.62, while China Resources Land fell 5.4% to HK$26.50 after the sale of the country’s largest company. 100 developers Last month, it fell 35% compared to the same month last year. Chinese electric car maker Li Auto fell 5.2% to HK$139.40, while Chinese sportswear maker Li Ning fell 5.8% to HK$19.68.
of Purchasing Managers Index (PMI) The National Bureau of Statistics announced over the weekend that the manufacturing sector’s share fell to 49 from 49.4 in November, falling below 50, the dividing line between expansion and contraction, for the third consecutive month.
“Sustained weakness could put pressure on Hong Kong and mainland China stock markets as investors return from the long weekend,” said Redmond Wong, strategist at Saxo Markets in Hong Kong. Ta.
The decline in sales at the country’s top developers accelerated in December, following a 30% drop in November, according to data released over the weekend by the China Real Estate Information Corporation. For the full year of 2023, sales decreased by 17%.
The Hang Seng Index fell 14% last year, making it the worst performer among the world’s major stock indexes. The fourth straight annual decline is the longest losing streak on record for the 82 member benchmarks, during which the index, which tracks Asia’s third-largest market, has fallen more than 40%. The entire market lost about $500 billion in value in 2023, according to Bloomberg data.
inside new year greetings Broadcast on state television, President Xi Jinping acknowledged that China’s businesses and people were facing difficulties and promised further reform and opening-up to foster growth and stability.
Elsewhere, Chinese search engine operator Baidu fell 0.7% to HK$115.30 after making a $3.6 billion bid for Joy’s live streaming. went out of businessafter failing to receive approval from Chinese regulators by a Dec. 31 deadline.
Other major Asian markets also rose. South Korea’s Kospi rose 0.6% and Australia’s S&P/ASX 200 rose 0.5%. Japanese markets are closed due to holidays.
