Hong Kong stocks fell after Trump rally shooting and weak Chinese data, especially impacting tech stocks.

From South China Morning Post: 2024-07-14 22:57:35

Hong Kong stocks dropped after an assassination attempt on former US President Donald Trump and weaker Chinese economic data. The Hang Seng Index fell by 0.6%, with tech stocks taking a hit. Chinese economic data showed second quarter GDP growth of 4.7%, below expectations. Retail sales also grew less than expected at 2%.

Investors are cautious following the attempted assassination of President Trump in the US. The incident could lead to a stronger US dollar, with implications for trade and immigration policies. The focus now shifts to China’s third plenum of the 20th Party Congress, where economic reforms are expected to be discussed.

Vehicle hardware maker GL-Carlink Technology Holding made its trading debut in Hong Kong, gaining 0.4% from its IPO price. Other major Asian markets had mixed performances, with Australia’s S&P/ASX 200 up by 0.9%, South Korea’s Kospi down by 0.2%, and Japan’s markets closed for a public holiday.



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