China and Hong Kong Markets Diverged Ahead of Key Earnings

Li Chen
24 Nov, 2025
Hong Kong

China and Hong Kong stocks rebounded from a sharp sell-off in the previous week, and investors prepared to review a flood of domestic corporate results.

The Hang Seng Index increased 1.4%, and the mainland-focused CSI 300 index fell 0.6% on Monday following losses of more than 3% in benchmark indexes in the previous week.

The weakness in U.S. tech stocks, coupled with a declining appetite for riskier assets such as stocks, cryptocurrencies, and precious metals, led to heavy selling pressure on global financial markets.

The AI-stock rally over the last seven months came to a screeching halt in early November amid growing worries about the lofty valuations, durability of aggressive capital spending by leading tech companies, and uncertainty about the U.S. economic outlook.

Closer to home, investors prepared to review a flood of quarterly results, including updates from Meituan and Alibaba Group Holding.

Market sentiment in China and Hong Kong remained negative following sluggish economic data, weaker-than-expected retail sales, and a persistent decline in home prices in urban areas. 

 

China Indexes and Stocks 

The Hang Seng Index advanced 1.3% to 25,547.46, and the mainland-focused CSI 300 index dropped 0.6% to 4,427.55. 

Alibaba Group soared 4.3% to HK $153.90 ahead of the company's quarterly results on Tuesday.

Meituan advanced 2% to HK $97.55, and the food delivery company is scheduled to release its quarterly results later in the week. 

Property developers edged higher for the second consecutive week on optimism that policymakers are likely to provide additional incentives to first-time home buyers.

China Vanke Group added 1% to HK $4.23, Longfor Group Holdings increased 2.3% to HK $10.13, and Henderson Land Development Company edged up 0.6% to HK $29.48.