Hang Seng Slides 2% Yet Marks First Monthly Gain in Four

EthereumCraftsman · 2026-01-30T13:32:02+00:00

The Hang Seng index fell 2.1% due to profit-taking and declines in U.S. stock futures, while mainland shares dropped following metal price declines. Despite this, the market posted a weekly gain of 2.4% and signs of recovery in the property sector.

EthereumCraftsman

2026-01-30 13:32:02

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The Hang Seng plunged 581 points, or 2.1%, to close at 27,387 on Friday, halting a seven-session strength amid a slump in U.S. stock futures ahead of President Trump’s decision on the next Fed chair. The benchmark index slipped from a 4-1/2-year high, with traders locking in profits before China’s January PMI release. Sentiment was further weighed by a sharp fall in mainland shares following a sharp drop in metal prices. Losses were broad-based in Hong Kong, with consumer and tech down over 2% each. CK Hutchison sank 4.8% after a Panama court annulled key port contracts. Meanwhile, Zijin Gold (-11%), Zhaojin Mining (-9.6%), CSPC Pharma (-9.8%), and Geely Auto (-4%) ranked among the steepest laggards. Still, markets secured a third weekly gain of 2.4%, driving the first monthly rise in four, up near 7%, boosted by signs of recovery in Hong Kong’s property sector. Meanwhile, Beijing is weighing issuance of hundreds of billions of yuan in special bonds to recapitalize major insurers.

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