Hong Kong stocks fell 32 points, or 0.1%, to 25,897 in Wednesday morning trade, reversing gains from the prior two sessions as weakness in tech and consumer shares weighed. Sentiment was hit by a fifth straight decline in mainland markets, with traders cautious ahead of China’s lending rate fix on Friday. Rates were last held at record lows for nine months to support economic growth. In the U.S., the Federal Reserve is expected to keep policy rate steady later today while unveiling its first 2026 projections, as oil markets reel from the Iran war. The conflict also clouds prospects for the Trump–Xi Jinping summit later this month, with Washington urging Beijing to help reopen the Strait of Hormuz. Locally, several key data releases are expected in the city, including the February jobless rate, inflation figures, and the Q4 current account. Early laggards included Tencent Music Entertainment (-21.4%), Kingboard Laminates (-5.9%), Prada Spa (-3.6%), and China Resources Land (-1.7%).
