Hang Seng Drops 1.3%, Meituan Leads Third Session of Declines
The Hang Seng Index extended its decline for a third day, falling 1.3%, or 322.07 points, to 25,006.16 in Hong Kong on Thursday (June 28). This decline was the largest since a 1.6% decline on May 15, signaling renewed selling pressure in the market.
Meituan was the largest contributor to the index's decline, falling 5.7%, while Hansoh Pharmaceutical recorded the deepest decline, dropping 7.1%. Of the 90 member stocks, 75 declined and only 15 advanced; all sectors declined, led by commerce and industrial stocks.
On a periodic basis, the Hang Seng Index fell 2.3% this week, heading for its biggest weekly decline since the week ending March 6. Over the longer term, the index has fallen 3% this month, fallen 2.5% in the last five days, and fallen 2.6% in the last 30 days. Despite this, the Hang Seng is still up 7.5% in its 52-week history, but is 10.9% below its 52-week peak on January 29, 2026.
In terms of valuation and risk, the Hang Seng is trading at a trailing P/E of 13.1x and approximately 11.3x its estimated full-year earnings, with a 12-month dividend yield of 3.1% and an aggregate market capitalization of approximately HK$29.8 trillion. Its 30-day volatility rose to 16.07% from 15.71% in the previous session, signaling a rising risk premium as weakness spreads across sectors. (asd)
Source: Newsmaker.id
