Hong Kong stocks dropped as China’s top leaders kicked off a key meeting that investors believe will set the tone for the nation’s economy next year.
The Hang Seng Index fell 0.8 per cent to 20,155.05 at the close, while the Hang Seng Tech Index slumped 1.3 per cent. On the mainland, the CSI 300 Index slipped 0.2 per cent and the Shanghai Composite Index added 0.3 per cent.
All eyes are on a two-day economic work conference, which started Wednesday, as investors are eager for more detailed policy measures after a readout from a Politburo meeting earlier this week hinted at a greater stimulus efforts to improve growth. Sentiment cooled after the initial excitement for policy hopes, as investors took some profit to see how Beijing would follow up with specific measures.
“For a sustained rally in the Hong Kong stock market, we want to see forceful measures, effective execution and clear signs of China breaking through the…
