28.11.202508:18:12UTC+00Hang Seng Marks a Quiet Finish to November

The Hang Seng index dipped by 87 points, or 0.3%, closing at 25,859 on Friday, putting an end to its four-day winning streak. This decline was primarily due to weaker performances in the property and financial sectors. Investor sentiment was subdued, largely due to cautious anticipation of China’s official Purchasing Managers' Index (PMI) data for November, expected over the weekend, as well as additional private survey results scheduled for release next week. Concerns about potential volatility were heightened as major indices on mainland China approached multi-year highs, driven by optimism around artificial intelligence developments. However, the losses were somewhat mitigated by a slight uptick in U.S. futures during a shortened trading session on Wall Street post-Thanksgiving. Among the decliners, Anta Sports fell by 0.6% and Li Ning by 1.4%, amid both companies weighing the possibility of acquiring the struggling German sportswear firm Puma. Other significant downturns included Alibaba Health, which dropped 3.1%, Nongfu Spring, down by 3.4%, and China Overseas Land, which decreased by 2.7%. Over the month, the Hang Seng showed little change, maintaining steadiness ahead of China’s Central Economic Work Conference in December, despite achieving a 2.5% gain over the week.