Hong Kong Stocks Continue Downward Slide as Investors Evaluate Trade Talks, Financials; HSBC, Hang Seng Bank Report Drop in Earnings

Published on 07/30/2025 at 04:40 am EDT
(MT Newswires) -- Hong Kong stocks continued their downward slide Wednesday as investors followed the latest trade developments and evaluated corporate earnings.
The Hang Seng Index fell 347.52 points, or 1.36%, to 25,176.93, while the Hang Seng China Enterprises Index declined 107.65 points, or 1.18%, to 9,038.27.
U.S. and China could not agree on the timing of a tariff reprieve despite willingness from both sides to extend the measure, raising fears that levies may be hiked again after the current pause expires on Aug. 12.
While the countries were willing to extend the tariff truce during their two-day trade negotiation in Sweden, US Treasury Secretary Scott Bessent said that the extension would be up to President Donald Trump.
In corporate news, HSBC reported a drop in its Q2 profit and revenue. The bank reported $4.58 billion in attributable profit on revenue of $16.47 billion, down from $6.40 billion on sales of $16.70 billion a year earlier. Shares closed 4% lower.
Meanwhile, Hang Seng Bank (HKG:0011, HKG:80011) also reported a drop in earnings. The bank's attributable profit for the first six months of the year fell 30% year over yar to HK$6.88 billion, while net interest income came in at HK$14.34 billion, down from HK$15.5 billion. Shares were down over 6%.

Sumber : MT Newswires