Markets in Hong Kong Slip for 3rd Session
Hong Kong's stock market experienced a decline of 103 points, equivalent to 0.4%, settling at 23,238 around midday on Monday. This marked the third consecutive session of losses. The downturn was influenced by a drop in U.S. futures subsequent to Moody's downgrading of the U.S. credit rating. Investors were also processing China's economic data for April, which showed a slowdown in industrial output growth even though it surpassed expectations, while retail sales fell short of projections. Furthermore, there was a deceleration in fixed-asset investment during the first four months of the year.
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