Hang Seng Slides 2% Yet Marks First Monthly Gain in Four

2026-01-30 08:20 By Farida Husna 1 min. read

The Hang Seng plunged 581 points, or 2.1%, to close at 27,387 on Friday, halting a seven-session strength amid a slump in U.S.

stock futures ahead of President Trump’s decision on the next Fed chair.

The benchmark index slipped from a 4-1/2-year high, with traders booking profits before China’s January PMI data.

Sentiment was further weighed by a sharp fall in mainland shares following a sharp drop in metal prices.

Losses were broad in Hong Kong, with consumer and tech down over 2% each.

CK Hutchison sank 4.8% after a Panama court revoked key port contracts.

Meantime, Zijin Gold (-11%), Zhaojin Mining (-9.6%), CSPC Pharma (-9.8%), and Geely Auto (-4%) ranked among the steepest laggards.

Still, markets secured a third weekly gain of 2.4%, driving a first monthly rise in four, up 6.9%, boosted by signs of recovery in Hong Kong’s property sector.

Meanwhile, China is weighing the issuance of CNY 200 billion in special bonds to recapitalize major insurers, including state-controlled firms.



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