From South China Morning Post: 2024-05-28 22:43:26

Hong Kong stocks fell the most in a week, with the Hang Seng Index down 1.5%. The yuan hit a six-month low. Market sentiment awaits catalysts amid China’s property market measures. Lenovo sold $2 billion convertible bonds to Saudi fund to repay debts. Tech sector leaders like Meituan and Alibaba also dropped. Economic data from China and the US awaited.

Investors are cautious ahead of key data releases as major Asian markets like Japan’s Nikkei 225 and South Korea’s Kospi retreated. Chinese electric-vehicle maker BYD climbed after upgrading its technology for longer driving range. The Hang Seng Index entering bull market territory calls for fresh catalysts. Shanghai joins Guangzhou and Shenzhen in easing home purchase curbs under national rescue plan. Onshore yuan drops to boost exports. Sentiments led by hope for housing sales stabilization.



Read more at South China Morning Post: Hong Kong stocks slide as rebound stalls ahead of key data; Lenovo slumps on convertible bond sale