Beautiful Virgin Islands

Monday, Aug 04, 2025

Hong Kong stocks extend drop on crackdown woes before July economic reports

Hong Kong stocks extend drop on crackdown woes before July economic reports

Hong Kong stocks declined amid lingering concerns about regulatory crackdown in China, while traders braced for key data on China’s economic pulse amid a resurgence in delta cases.

Hong Kong stocks fell for a second day on lingering concerns that Beijing will extend its regulatory crackdown while traders braced for key data on China’s economic pulse.

The Hang Seng Index dropped 0.5 per cent to 26,391.62 at the close on Friday, reducing the advance this week to 0.8 per cent. Technology stocks paced losses as smartphone maker Xiaomi, Alibaba Group Holding and Tencent Holdings retreated by at least 2.4 per cent. The Shanghai Composite Index slipped 0.2 per cent.

Sentiment remained skittish as a plan released this week by the State Council, China’s cabinet, signalled policymakers will strengthen regulations to bring to order in a wider array of industries. The nation’s banking regulator was also said to be scrutinising the insurance sector for malpractices such as false advertising, according to media reports.

“China‘s regulatory crackdown now seemingly set for years ahead,” said Jeffrey Halley, an analyst at Oanda. “I doubt the cheapness of price to governmental risks ratio for China equities has finished its repricing exercise lower yet.”

Analysts from at least 15 brokerages – from UBS Group and Goldman Sachs to Citigroup, Oppenheimer and CLSA – have slashed their price targets for Alibaba’s depositary shares by at least 40 times since early November, leaving the market to guess the bottom. Alibaba owns this newspaper.

At the same time, a surge in delta cases has prompted authorities to reimpose lockdown measures and restrictions on travels in some provinces, clouding the nation’s recovery outlook. Industrial production, retail sales and fixed-asset investment in China probably moderated in July from the preceding month, according to estimates compiled by Bloomberg. The government will report the statistics on Monday.

Other markets in Asia-Pacific were mixed after US stocks charted new highs in overnight trading. The latest data showed US producer prices accelerated faster-than-expected in July, while initial unemployment claims fell for a third week and home prices rose by a record.

Elsewhere, WH Group, the world’s biggest pork processor, rose 3.3 per cent to HK$6.57 after founder Wan Long stepped down as chief executive, leaving the business empire to professional managers.

Tesla supplier Contemporary Amperex Technology climbed less than 0.1 per cent to 502.05 yuan in Shenzhen, erasing a loss of as much as 4.4 per cent. The world’s biggest maker of lithium batteries announced a plan to raise as much as 58.2 billion yuan (US$9 billion) in a private stock offering.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
Tesla Seeks Shareholder Approval for $29 Billion Compensation Package for Elon Musk
Nvidia is cutting prices on its RTX 50-series graphics cards after sales slowed and inventories piled up
Ghislaine Maxwell Transferred to Minimum-Security Prison Amid Ongoing DOJ Discussions
U.S. Tariffs Surge to Highest Levels in Nearly a Century Under Second Trump Term
Matt Taibbi Slams Media for Role in Russiagate Narrative
Pilots Call for Mental Health Support Without Stigma
All Five Trapped Miners Found Dead After El Teniente Mine Collapse
Ong Beng Seng Pleads Guilty in Corruption Case Linked to Former Singapore Transport Minister
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
Italy Fines Shein One Million Euros for Misleading Sustainability Claims
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
Declassified Annex Links Soros‑Affiliated Officials and Clinton Campaign to ‘Russiagate’ Narrative
UK's Online Safety Law: A Front for Censorship
Nationwide Protests Erupt in Brazil Demanding Presidential Resignation
Parents Abandon Child at Barcelona Airport Over Passport Issue
Mystery Surrounds Death of Brazilian Woman with iPhones Glued to Her Body
Bus Driver Discovers Toddler Hidden in Suitcase in New Zealand
Switzerland Celebrates 734 Years of Independence Amid Global Changes
U.S. Opens Official Investigation into Former Trump Prosecutor Jack Smith
Leaked audio of Canada's new PM Mark Carney admitting the truth about the Net Zero agenda: "We're gonna make a lot of money off of this."
China Enforces Comprehensive Ban on Cryptocurrency Activities
Absolutely 100% Realistic EVO Series Doll by EXDOLL (Chinese Company) used mainly for carnal purposes
World Economic Forum founder Klaus Schwab: "In this new world, we must accept... total transparency. You have to get used to it. You have to behave accordingly. But if you have nothing to hide, you shouldn't be afraid."
Meet Mufti Hamid Patel, head of Office for Standards in Education in Pakistan
George Soros tells the World Economic Forum: "President Trump is a con man and the ultimate narcissist, who wants the world to revolve around him."
Hamas are STARVING the hostages.
Decline in Tourism in Majorca Amidst Ongoing Anti-Tourism Protests
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
Poland Begins Excavation at Dziemiany After New Clue to World War II‑Era Nazi Treasure
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Threatens Canada with Tariffs Over Palestinian State Recognition
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Trump Sues Murdoch in “Heavyweight Bout”: Lawsuit Over Alleged Epstein Letter Sets Stage for Courtroom Showdown
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
Trump Administration Finalizes Broad Tariff Increases on Global Trade Partners
J.K. Rowling Limits Public Engagements Citing Safety Fears
JD.com Launches €2.2 Billion Bid for German Electronics Retailer Ceconomy
Azerbaijan Proceeds with Plan to Legalise Casinos on Artificial Islands
Former Judge Charged After Drunk Driving Crash Kills Comedian in Brazil
Jeff Bezos hasn’t paid a dollar in taxes for decades. He makes billions and pays $0 in taxes, LEGALLY
China Increases Use of Exit Bans Amid Rising U.S. Tensions
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Procter & Gamble to Raise U.S. Prices to Offset One‑Billion‑Dollar Tariff Cost
House Republicans Move to Defund OECD Over Global Tax Dispute
Botswana Seeks Controlling Stake in De Beers as Anglo American Prepares Exit
Trump Administration Proposes Repeal of Obama‑Era Endangerment Finding, Dismantling Regulatory Basis for CO₂ Emissions Limits
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
×