Hong Kong Stocks Drop for Third Day; BYD Falls on Sales Cut, Synagistics Gains on AI Platform Launch

Published on 09/04/2025 at 04:57 am EDT
(MT Newswires) -- Hong Kong stocks declined for a third straight session on Thursday, tracking mainland equities after reports that Chinese financial regulators are considering steps to slow the pace of the market surge.
The Hang Seng Index fell 284.92 points, or 1.1%, to 25,058.51, while the Hang Seng China Enterprises Index dropped 112.93 points, or 1.3%, to 8,937.09.
China's financial regulators are weighing measures to cool the stock market amid concerns over the rapid pace of a $1.2 trillion rally since early August, Bloomberg News reported.
Proposals submitted to top policymakers in recent weeks include easing short-selling curbs and curbing speculative trading, amid concerns that a sharp reversal could leave retail investors nursing heavy losses, the report said.
In corporate news, BYD closed over 3% lower after slashing its full-year sales target by up to 16% to 4.6 million vehicles, according to a Reuters report, citing sources.
Meanwhile, Synagisticsrose 3% to close at HK$16.50 after launching Geene M2, a large language model platform integrating AI engines including ChatGPT, Alibaba's Qwen, and ByteDance's SkyLark.

Sumber : MT Newswires