Hong Kong equities fell 228 points, or 0.9%, to 25,746 in early trade on Monday, reversing gains from the prior session as broad-based losses swept across most sectors. Sentiment weakened after fresh data signaled a loss of momentum in China’s economy, with November industrial output rising the least in 15 months and retail sales growth easing to near a three-year low. China’s statistics agency also acknowledged that growth remains under pressure from weak external conditions and persistently weak demand. Still, downside pressure was capped by a rebound in U.S. futures after Wall Street retreated from record highs Friday, as investors awaited key data and a series of central bank decisions. Further support came from policy signals after China’s leaders last week pledged to maintain a proactive fiscal stance in 2026 to bolster consumption, investment, and overall growth. Among early laggards were Nongfu Spring (-3.0%), Xiaomi Corp. (-2.0%), SMIC (-1.9%), and Tencent Holdings (-1.5%).
