Hong Kong Stocks Struggle as Typhoon Hits Trading Floor

Impact of Typhoon on Hong Kong Stocks

Hong Kong stocks struggled today as severe weather conditions marked the first-ever functional trading session during a typhoon. The Hang Seng Index fell by 0.3% to 19,755.71 at 10 am local time, while the Hang Seng Tech Index also saw a decrease of 0.6%.

The trading session broke previous norms as Hong Kong's market stayed open despite the No 8 typhoon signal being issued on Wednesday, signaling a significant shift in market operations.

Performance of Chinese Indices

Meanwhile, the CSI 300 Index rose slightly by less than 0.1%, in contrast with the Shanghai Composite Index, which also recorded a gain of 0.1%.

Earnings Reports in Focus

JD.com shares fell 1.6% ahead of its earnings announcement, while Alibaba Group Holding dropped 0.3% as investors prepare for its upcoming results. On the other hand, Tencent Holdings experienced a rise of 2.5% after exceeding profit expectations for the third quarter.

Market Sentiment Shaken

Investor sentiment soured as expectations of fiscal stimulus from China were not met. Last week, only measures for local-government debt resolutions were approved, leaving many investors anxious.

Global Market Response

In contrast, other major Asian markets displayed gains, with Japan’s Nikkei 225 climbing 0.4%, and South Korea’s Kospi and Australia’s S&P/ASX 200 each rising 0.4% amid supportive US inflation data.