Chinese Stocks in Hong Kong Slide After Rallying More Than 30%

HSCEI gauge declines after 13 straight sessions of gains
China property stocks led the losses with double-digit plunge

WATCH: Morgan Stanley’s Laura Wang says investors are looking at China “through a reflationary or inflationary lens,” but adds that corporate earnings need “to come along.”Source: Bloomberg

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By Winnie Hsu

October 3, 2024 at 1:46 AM UTC

Updated on

October 3, 2024 at 8:13 AM UTC

This article is for subscribers only.

A historic rally in Chinese stocks took a breather on Thursday, as traders took profit following gains of more than 30% from a September low.

The Hang Seng China Enterprises Index fell as much as 4.9% before finishing the day down 1.6%, snapping a 13-session run of gains. Chinese developers led the declines after a measure tracking the sector surged by a record Wednesday. Mainland Chinese markets remain closed through Oct. 7 for the Golden Week holidays.