January 09, 2025 at 03:46 am EST
(MT Newswires) -- Hong Kong stocks closed in red again on Thursday as traders' concerns over a possible deflation became apparent following the data showing a slowing inflation together with a continuing decline in producer prices.
The Hang Seng Index fell 0.20%, or 38.95 points, to close at 19,240.89 on Thursday. The Hang Seng China Enterprises Index fell 0.17%, or 11.68 points, to end at 6,978.97.
China's consumer price index rose 0.1% year on year in December 2024, down from the 0.2% rise the previous month and marked the slowest pace since April 2024. The reading was in line with the expectations of economists surveyed by Reuters.
Additionally, the producer price index declined 2.3% year over year in December 2024, easing from the decrease of 2.5% in the previous month. The recent figure was slightly better than the 2.4% decline estimated by Reuters, but marked the 27th straight month of decline.
In market news, Xiaomi and Semiconductor Manufacturing International closed over 3% and nearly 3% higher respectively, while Tencent (HKG:0700) closed over 1% higher on Thursday. At the same time, Meituan finished nearly 2% lower while Alibaba Group stayed in the red.
In corporate news, Anhui Conch Material Technology made a weak trading debut in Hong Kong Thursday morning as its shares dropped 40% at the opening bell. The China-based cement and concrete admixture producer opened at HK$1.80 per share, well below its IPO price of HK$3.00, and closed at HK$1.57.
Contiocean Environment Tech Group made a strong trading debut in Hong Kong Thursday morning as its shares rose about 7% at the opening bell. The China-based maritime environmental protection equipment and system provider opened at HK$33.95 per share, above its IPO price of HK$31.80, and closed at HK$33.80.

Sumber : MT Newswires