HSI Falls 136 Points Below 23,000 on Futures Settlement Day

黃黃郁婷 產業線記者2026-10-29 10:19

Browser TTS · no download

30-second brief

The U.S. Federal Reserve held rates steady, U.S. stocks rose. On the HSI futures settlement day, the Hang Seng Index held steady in choppy morning trade, selling pressure widened in the afternoon, ending down 136 points at 22958, falling below the 23,000 mark, with turnover of 1894.53 hundred million yuan.

After the U.S. Federal Reserve kept interest rates unchanged following its meeting, in line with market expectations, the three major U.S. stock indices rose. Hong Kong's Hang Seng Index on the 29th, on the futures settlement day, opened 6 points lower in the morning at 23,088 points, holding above the 23,000 mark, then moved choppily, at one stage in early trade reversing up 89 points to a high of 23,184 points.

Morning Bulls and Bears Tussle, Up 11 Points at Midday

After hitting a high of 23,184 points, the market fell back again, dropping 108 points, briefly falling below 23,000 to a low of 22,986 points, then bulls and bears tussled around the level, rising 11 points at midday to 23,106 points in choppy trade. There was little change in the early afternoon, maintaining a dull tussle.

Afternoon Breaks Below Morning Low, Searches for Bottom Into Close

In the afternoon the market erased all gains, breaking below the morning low, further widening losses late in the session and searching for a bottom, at one point down 166 points to a low of 22,928 points, finally closing down 136 points at 22,958 points, again falling below 23,000. Full-day turnover was 1,894.53 hundred million yuan. The China Enterprises Index fell 35 points to 7,755 points; the Tech Index fell 109 points to 3,744 points.

Financial Stocks Support Market, Technology and Chip Stocks Sold Off

Chinese financial stocks rose, China Construction Bank rose 2.12% to 10.13 yuan; ICBC rose 2.3% to 7.78 yuan; Ping An Insurance rose 2.56% to 49.62 yuan; China Life rose 2.45% to 24.22 yuan; Bank of China rose 1.57% to 6.135 yuan; AIA rose 1.06% to 71.65 yuan; HSBC fell 0.07% to 135.5 yuan. Technology stocks were generally lower, Tencent fell 2.58% to 377.6 yuan; Meituan fell 2.81% to 69.2 yuan; Alibaba fell 2.83% to 96.1 yuan; JD.com fell 1.55% to 98.55 yuan; Baidu fell 2.07% to 75.55 yuan; Kuaishou fell 3.18% to 26.22 yuan; NetEase fell 2.1% to 172.4 yuan; Xiaomi rose 0.23% to 25.68 yuan; Pop Mart fell 1.53% to 128.7 yuan. Lenovo fell 6.9% to 22.14 yuan; SMIC fell 5.94% to 44.96 yuan; Hua Hong Semiconductor fell 7.71% to 64.6 yuan; MiniMax fell 6.72% to 168.1 yuan; Zhipu fell 6.91% to 532 yuan; New Oriental fell 14.03% after results to 36.76 yuan.

FAQ

How did the Hang Seng Index perform on the 29th?

The HSI opened 6 points lower on the 29th at 23,088 points, hit a high of 23,184 points in early trade, rose 11 points at midday, turned lower in the afternoon, finally closing down 136 points at 22,958 points, falling below 23,000, with full-day turnover of 1,894.53 hundred million yuan.

Which stocks rose against the market?

Chinese financial stocks rose, China Construction Bank, ICBC, Ping An Insurance, China Life, Bank of China and AIA all recorded gains, while Xiaomi also edged up 0.23% to 25.68 yuan.

Which stocks saw larger declines?

New Oriental fell 14.03% after results to 36.76 yuan; Hua Hong Semiconductor fell 7.71%, Lenovo fell 6.9%, Zhipu fell 6.91%, MiniMax fell 6.72%, and SMIC fell 5.94%.