Hong Kong Market falls on weak China factory data

Hong Kong share market finished session lower on Wednesday, 31 January 2024, as risk sentiments dented amid weak Chinas manufacturing sector data and on caution ahead of the Federal Reserve's interest-rate decision later in the day.

At closing bell, the benchmark Hang Seng Index fell 218.38 points, or 1.39%, to 15,485.07. The Hang Seng China Enterprises Index dropped 81.33 points, or 1.54%, to 5,194.04. for the month, Hang Seng index fell 9.2%.

Among blue chips, Alibaba Group weakened 2.3% to HK$69.55 and e-commerce peer JD.com declined 3.1% to HK$86.80, while Meituan slipped 4.4% to HK$62.55. WuXi Biologics sank 8.3% to HK$20.50 and its affiliate WuXi AppTec slid 4.1% to HK$54. HSBC dropped 0.2% to HK$61.25 after it was fined by a UK financial watchdog.

 

Shares of Sunny Optical plunged 12% to HK$47.75 after the camera lens maker said net income for 2023 likely fell as much as 55% because of falling product prices and shrinking margins amid weak demand and stiffer competition.

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