The Hang Seng Index in Hong Kong fell 0.8% today due to renewed concerns over China's economic recovery and heavy selling in the tech sector. This cautious sentiment spilled over, contributing to the FBM KLCI's struggle to maintain gains in the afternoon session.
The Hong Kong Hang Seng Index dropped 0.8% today, closing below the 15,200 level, driven by persistent concerns over China's property sector and the pace of its economic recovery. This negative sentiment quickly spread across Southeast Asian markets, specifically impacting trade-reliant Malaysia. Although the FBM KLCI started the day strong, it surrendered most of its gains in the afternoon session as selling intensified among regional peers. Analysts suggest that volatility in Asian markets is likely to persist as long as the outlook for the Chinese economy remains cloudy. Investors are expected to continue favoring defensive stocks over cyclical ones until clearer policy signals emerge from Beijing.
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