Ping An Insurance Group and BYD Lead Hong Kong Stocks Decline Ahead of Economic Briefing

Market Overview

Hong Kong stocks edged down as investors awaited potential stimulus measures from Chinese authorities in an imminent briefing, amid uncertainty about economic support for the country’s recovery and tariff tensions with the US.

• The Hang Seng Index dropped 0.5% to 21,882.57 as of 9.45 am local time.
• The Hang Seng Tech Index lost 0.2%.
• On the mainland, the CSI 300 Index slipped 0.2% and the Shanghai Composite Index dropped 0.3%.

Top Gainers and Losers

• BYD Electronic International fell 6.6% to HK$32.45.
• Ping An Insurance Group declined 2.2% to HK$44.95.
• China Resources Land dropped 3.1% to HK$26.25.
• JD.com rose 1.7% to HK$125.90, while Sinopharm gained 2% to HK$17.76.

Economic Briefing Ahead

Multiple Chinese agencies are set to hold a joint briefing at 10 am local time to discuss strategies on stabilising employment, ensuring steady growth, and fostering high-quality development. Key players include the National Development and Reform Commission, Ministry of Human Resources and Social Security, and the Ministry of Commerce.

Stephen Innes, managing partner at SPI Asset Management, commented, “After six months of getting head-faked by China stimulus headlines, the tape’s not biting yet.” Positive data and announcements were noted over the weekend, with plans for more generous tax refunds to international visitors to boost the economy.

• Industrial profits returned to growth with a 0.8% rise to 1.5 trillion yuan in Q1.

Global Market Impact

Elsewhere in Asia-Pacific, Japan’s Nikkei 225 gained 0.8%, while Australia’s S&P/ASX 200 rose 0.7% and South Korea’s Kospi advanced 0.3%.