The Dow Jones fell last night, with mainland A-shares weakening and Hong Kong stocks closing lower. The Hang Seng Index opened lower by 10 points today (4th), reaching a high of 133 points during trading, but dropping to a low of 246 points before closing at 25,952 points, down 205 points (0.8%), with a turnover of 240 billion. The Nasdaq fell by 0.9% and the technology index dropped by 1.8%.
Tencent (00700) rose by 0.2%, Alibaba (09988) surged by 2.6%, Meituan (03690) fell by 2.4%, JD.com (09618) significantly declined by 3.0%, Hong Kong Exchanges and Clearing (00388) dropped by 0.8%, and HSBC Holdings (00005) slightly decreased by 0.3%. The best and worst performing blue-chips were Master Kong (00332) rising by 3.3% and Zijin Mining (02899) plummeting by 5.4%.
Mainland China has adjusted its gold tax policy by canceling the value-added tax deduction for retail gold, reportedly prompting Chow Tai Fook Jewellery (01929) to adjust the prices of some gold products from the 3rd of this month in response to increased gold procurement and production costs. Chow Tai Fook’s stock price fell by 2.3%.
MTR Corporation (00066) slightly decreased by 0.3% and announced the appointment of Mr. Edmond Kwong as the Director of Hong Kong Passenger Services, effective from January 28, 2026. He will also become a member of the MTR Corporation’s Executive Management Committee on the same day.
China Gold International Resources (01818) saw a significant decline of 4.3% as the company’s partner Ant Group explores digitizing overseas gold assets.
Smart car concept stock Allwinner Technology (00699) announced an IPO price of HK$22 per share for the sale of 155 million H shares, expected to start trading on November 6.
As of the time of writing, Brent crude oil fell by 0.9% to $64.5 per barrel, with individual developments for the “Big Three” oil companies: PetroChina (00857) rose by 0.5%, CNOOC (00883) fell by 0.3%, and Sinopec (00386) increased by 0.5%.