Published on 11/07/2025 at 03:42 am EST
(MT Newswires) -- Hong Kong stocks were back in the red Friday as markets digested news of a softening U.S. job market and an unexpected decline in China's export figures.
The Hang Seng Index decreased by around 244.07 points, or roughly 0.9%, to end at 26,241.83. The Hang Seng China Enterprises Index fell around 88.41 points, or 0.9%, to 9,267.56.
China's exports in October slipped 1.1% year on year in US dollar terms to $305.4 billion, missing a consensus estimate of a 2.9% increase, according to a Bloomberg survey, the South China Morning Post reported. The contraction could signal a worsening outlook for China's economy, leaving the country more reliant on domestic demand, which is already struggling, the report said.
Meanwhile, US-based employers announced 153,074 job cuts last month, up 183% sequentially and 175% annually, Challenger Gray & Christmas said. The figure is the highest job cuts for any October in more than two decades, Bloomberg reported.
In corporate news, Sichuan Biokin Pharmaceuticallaunched its initial public offering in Hong Kong, targeting to raise as much as HK$3.36 billion via the sale of 8.6 million shares at HK$347.50 to HK$389.00 each.
CNGR Advanced Materialalso launched its IPO, looking to raise as much as HK$3.94 billion via an offering of 104.2 million shares at HK$34.00 to HK$37.80 each.

Sumber : Reuters