2025.09.1108:24:45UTC+00Hang Seng Trims Losses at Finish

The Hang Seng Index declined by 114 points, equating to a 0.4% drop, closing at 26,086 on Thursday. This decline halted a four-day rising trend and marked a retreat from a four-year high amid widespread sector losses. Investor sentiment was dampened following a report by the New York Times suggesting that the U.S. might impose restrictions on Chinese pharmaceuticals and apply stricter scrutiny to licensing agreements for experimental drugs. The pharmaceutical sector experienced significant declines, with Hansoh Pharma tumbling 8.3%, followed by CSPC Pharma with a 7.1% fall, Akeso Inc. dropping 4.7%, and Wuxi Biologics also down by 4.7%. Additional major decliners included Meituan, which fell 4.6%, Li Auto with a 2.9% decrease, and Geely Auto, which edged down by 1.1%. However, some of the losses were mitigated after Bloomberg News reported that China might aid local governments by instructing state banks to extend loans to cover unpaid bills, providing a boost to mainland stocks. In the United States, futures rose slightly, driven by soft producer price data which reinforced expectations for further Federal Reserve interest rate cuts this year, with a potential 25 basis points reduction anticipated as soon as next week. Meanwhile, in Europe, the European Central Bank is anticipated to maintain its rates unchanged during its second meeting later today.