Hong Kong Stocks Fall Amid China's Unchanged Lending Rates

Hong Kong Stocks Decline

Hong Kong stocks tightened grip on declines, snapping a two-day gain, attributed to China’s decision to keep benchmark lending rates unchanged. The Hang Seng Index fell 0.2 percent to 19,624.84 at 10:05 am local time. Meanwhile, the Hang Seng Tech Index posted a slight loss of 0.1 percent.

Performance of Key Indices

• The CSI 300 Index eased 0.2 percent.
• The Shanghai Composite Index edged up by 0.1 percent.

Major Stock Movements

Stocks faced mixed results, with notable declines from:

• Geely Automobile: dropped 3.4 percent to HK$13.16.
• Xiaomi: fell 1.6 percent to HK$27.85.
• Alibaba Group Holding: slipped 1.1 percent to HK$84.30.
• Hong Kong Exchanges and Clearing: lost 1 percent, now at HK$297.60.

Interest Rate Stability

The one-year loan prime rate (LPR) for November remains steady at 3.10 percent, while the five-year rate holds at 3.6 percent, according to the People's Bank of China. As the LPR is seen as the essential benchmark borrowing cost in China, investors await monthly releases.

Noteworthy Stock Activity

In other news, Hunan Xiangtou Goldsky Titanium Industry Technology, a metal products manufacturer, skyrocketed 306 percent on its trading debut, reaching 29.07 yuan.

Regional Market Trends

Other major Asian markets showed mixed results: Japan's Nikkei 225 fell 0.2 percent, Australia's S&P/ASX 200 declined 0.4 percent, while South Korea's Kospi rose 0.4 percent.