FX.co ★ Hong Kong Stocks Fall for 3rd Session

On Wednesday morning, Hong Kong stocks experienced a decline, falling 236 points or 0.9%, to 26,721. This marked the third consecutive day of losses as trading resumed following Tuesday's break. The downturn mirrored the previous night's losses on Wall Street, where the S&P 500 ended a seven-day rally. This was largely due to Oracle's drop owing to margin concerns, which negatively impacted tech shares. Market sentiment was further affected by political uncertainties in France and Japan, along with the ongoing U.S. government shutdown. All sectors faced declines, with technology stocks notably down by approximately 2%. Key losses were observed in companies like SenseTime (-3.5%), SMIC (-2.9%), Kuaishou Tech (-2.8%), and Meituan (-2.1%). Conversely, stocks related to gold saw gains as bullion prices continued to achieve new records, with notable increases for Laopu Gold at 3.0% and China National Gold Group Gold Jewellery at 1.1%. Nevertheless, there was some optimism that sentiment could rebound once mainland markets reopen on Thursday. Additionally, despite adverse weather conditions in some regions, reports indicated that China's travel demand remained robust during the first six days of the Golden Week holiday.