The Hang Seng Index fell 2.1 per cent to 19,971.24 at the close, the steepest decline since November 12. The decline trimmed the gain for the week to 0.5 per cent. The Hang Seng Tech Index retreated 2.6 per cent. On the mainland, the CSI 300 Index slid 2.4 per cent and the Shanghai Composite Index sank 2 per cent.
All but six stocks from the 83-member Hang Seng Index dropped; Chinese property developers were the worst performers.
China’s bond market extended its relentless run-up after a readout from the annual economic work conference, which was published by the Xinhua News Agency on Thursday night, said Beijing would make more cuts to interest rates and the reserve requirement ratio for banks next year. The yield on the 10-year sovereign bond hit a record low again, falling to 1.773 per cent.
At the two-day gathering, top officials largely repeated the language used after a Politburo meeting earlier this week, pledging to use looser…
