Market Updates
China's Golden Week Holiday Sales Disappointed Investors, HSBC Proposed to Privatize Hang Seng Bank
Li Chen
09 Oct, 2025
Hong Kong
Benchmark indexes in Hong Kong and mainland China faced headwinds amid tepid retail sales data for the Golden Week holiday period.
The Hang Seng Index and the CSI 300 Index inched higher after investors returned from a weeklong holiday in mainland China.
Investor sentiment remained cautious after the Commerce Ministry said retail and food and beverage sales in the first four days of the Golden Week holiday rose 3.3%.
That increase was slower than 6.3% during the Labor Day holiday in May and lower than the 3.4% increase in retail sales in September.
The weak increase in retail and food and beverage sales confirmed that consumption is not likely to provide support for the economic growth in the second half.
China Indexes and Stocks
The Hang Seng Index edged up 0.03% to 26,819.01, and the mainland-focused CSI 300 index inched higher 0.04% to 4,715.47.
Hang Seng Bank Ltd. soared 26% to HK $150.30 after HSBC proposed to take the company private for HK $155 per share.
HSBC Holding plc declined 6.3% to HK $103.0.
Trip.com Group Ltd. rose 1.6% to HK $560.0 after the National Day and Mid-Autumn Festival tourism market witnessed an increase in volume and prices.
Chinese tourists preferred Japan, Thailand, Malaysia, and Singapore for international travel, and Beijing, Shanghai, Chengdu, and Xian remained popular for domestic travel.
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