Trade war

Hong Kong and mainland stocks fell for a second straight day as investors moved to the sidelines amid lingering concerns over the US-China trade deal that will be signed later tonight in Washington.

US President Donald Trump says he has no deadline for getting a partial trade deal completed with China. “I just tell you, in some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now and we’ll see whether or not the deal is going to be right"

Alibaba (9988 HK) fell again, posting its third straight day of losses. Sa Sa International (178 HK), Hong Kong’s biggest cosmetics retailer, declined after announcing cost cutting measures as it reels from protests, trade war.  

China stocks rose on fresh data showing manufacturing activity is growing. Hong Kong-listed Chinese property developers rallied on new data showing strong contracted home sales in November.

Alibaba (9988 HK) gained 5.6 per cent in its third day of trading, after news it is being fast tracked onto a broad version of Hong Kong’s benchmark stock index. That boosted hopes it will be added to the trading link between Hong Kong and mainland markets sooner than had been expected.  

China social media and gaming giant Tencent finished down 0.3 per cent at HK$319 -- below HK$320, which has been a key resistance level for it this year