Data from the General Administration of Customs showed on Sunday that China's exports were down by 1.1% in the last month of the year, after a drop of 0.9% in October on slowing global demand. Imports were up 0.3% from the year earlier, after October's 6.4% decline. China's trade surplus for November fell to $US38.73 billion, compared with $US42.81 billion surplus recorded in October. The figure for November 2018 was $US35.5 billion.
Traders remained cautious amid uncertainties surrounding an initial trade deal between the United States and China. Both sides have less than 6 days to go before Washington is poised to impose even more tariffs on Chinese goods. Tariffs on another $156 billion in Chinese goods are set to go into effect on Dec. 15. The Hong Kong market, which lacks a clear driver amid a gloomy economic outlook on both sides of the border, could drop to an even lower level if the two countries fail to strike a deal.
Blue chips were mixed. HSBC (00005) rose 0.4% to HK$57.7. HKEX (00388) edged down 0.3% to HK$246.8. Tencent (00700) nudged up 0.2% to HK$336.2. China Mobile (00941) added 1.2% to HK$60. AIA (01299) softened 0.5% to HK$77.6.
Chinese property counters were higher as the most recent politburo meeting has not mentioned the property market. Analysts interpreted it as a moderate policy tone. China Overseas Land & Investment (00688) rose 2% to HK$27.75, becoming the top blue-chip winner. China Resources Land (01109) put on 1.7% to HK$35.9. R&F Properties (02777) surged 6% to HK$13.34. Sunac China (01918) bounced 4.3% to HK$42.8. Country Garden (02007) added 1.6% to HK$11.32. Longfor Group (00960) gained 2% to HK$32.6.
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