Hong Kong Stock Exchange Weakens 305 Points to 23,106
The Hang Seng Index weakened 305 points, or 1.3%, to 23,106 on Thursday (June 25th). This decline brought Hong Kong's main index to its lowest level since June 2025. The decline occurred after the market failed to maintain its gains in the previous session, while investors opted for caution ahead of the release of Hong Kong's trade balance data.
The pressure on the market was not entirely even. Technology stocks still found support after Micron Technology provided a stronger-than-expected performance projection. The US chip company also highlighted strong demand for memory chips, driven by the need for artificial intelligence. This sentiment helped maintain investor interest in the semiconductor sector.
Furthermore, falling oil prices helped ease inflation concerns. Oil prices weakened due to signs of increasing supply and positive developments in peace negotiations between the United States and Iran. This gave the market little room to withstand deeper selling pressure.
Nevertheless, several large-cap stocks remained the main drag on the index. Tencent fell 2.0%, Meituan weakened 3.5%, Xiaomi slumped 3.8%, Trip.com plunged 7.8%, and Pop Mart International fell 3.2%. Investors are also monitoring the strong inflow of capital from mainland China into the Hong Kong market, which has helped support Hong Kong stocks amid a recovery in initial public offering (IPO) activity. (asd)
Source: Newsmaker.id
