Hong Kong stocks fall after initial gains, driven by US-China talks, ahead of key data releases

From South China Morning Post: 2024-04-07 22:58:31

Hong Kong stocks fell, erasing early gains fueled by positive US-China talks. Budweiser Brewing dropped 6.6%, while Zijin Mining Group rose 1.7%. China’s Commerce Minister dismissed EV overcapacity accusations. China will release crucial economic data this week, with analysts suggesting more stimulus may be needed for market recovery. Tourism revenue during the Ching Ming Festival surged, US Treasury Secretary Janet Yellen met with Chinese Premier Li Qiang on key issues. Two mainland companies had successful IPOs, while other Asian markets made gains following strong US job data.



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