At closing bell, the benchmark Hang Seng Index declined 0.32%, or 93.73 points, to 29,297.53. The Hang Seng China Enterprises Index dropped 0.38%, or 44.19 points, to 11,651.24.
Market players are cautiously watching whether the Fed will dial back or continue with a quantitative easing program that has supported the stock market
China's industrial profits grew 20.1% year-on-year in December 2020, bigger than the 15.5% increase registered in November 2020, the country's National Bureau of Statistics announced on Wednesday. For the whole year of 2020, annual profits for China's industrial firms grew 4.1% year-on-year to 6.45 trillion yuan, recovering from a 3.3% on-year decline seen in 2019. Earnings at China's state-owned industrial firms were down 2.9% for 2020 year-on-year, compared with a 12% slump in 2019, the statistics bureau data showed. Private sector profits grew 3.1% in 2020, stronger than 2019's 2.2% rise.
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