周二，恒生指数下跌580点，跌幅2.8%，收于19847点，延续了前一交易日的跌幅，并在中国10月份的信贷数据降至15年来的最低水平后，触及6周来的最低点。交易员们也感到紧张，因为唐纳德·特朗普准备挑选两名有批评中国记录的人担任其新政府的关键职位。由于对特朗普关税和预算赤字的担忧，美国期货价格显著下跌，损失范围广泛。彭博社的消息称，中国正寻求削减购房税，这遏制了经济衰退。与此同时，一些交易员预计，在上周的立法会议未能提振内需和缓解通缩风险后，下个月在中国举行的中央政府工作会议和政治局会议将取得积极成果。中国虹桥集团（-9.1%）、半导体制造（-8.1%），迷你索集团（-7.6%）、美团（-5.5%）和中金矿业等大盘股拖累股市。(-5.0%).

The Hang Seng tumbled 580 points or 2.8% to end at 19,847 on Tuesday, extending losses from the prior session and hitting its lowest in 6 weeks after credit data in China for Oct. fell to the lowest amount in 15 years. Traders were also nervous as Donald Trump is poised to pick two persons with track records of criticizing China for key positions in his new administration. Losses were broad-based, amid a notable fall in US futures, due to anxieties about Trump tariffs and the budget deficit. Capping the slump was news from Bloomberg that China is seeking to cut home-buying taxes. Meantime, some traders anticipated positive outcomes from the central govt. work conference and the Politburo meeting in China next month after a legislative session last week failed to boost domestic demand and ease deflation risks. Big drags came from large-cap stocks such as China Hongqiao Group (-9.1%), Semicon Manufacturing (-8.1%), Miniso Group (-7.6%), Meituan (-5.5%), and Zhongjin Mining Inds. (-5.0%).

香港50指数跌至6周低点19976.00点。过去4周，香港股市指数（HK50）下跌5.2%，过去12个月上涨14.74%。

HK50 decreased to a 6-week low of 19976.00 Index Points. Over the past 4 weeks, Hong Kong Stock Market Index (HK50) lost 5.2%, and in the last 12 months, it increased 14.74%.

香港股市在周二早盘下跌116点，跌幅0.6%，至20311点，连续第二天下跌，因大多数板块下跌，尤其是科技、消费和金融板块。在本周晚些时候公布的中国11月经济活动数据（包括工业产出和零售额）之前，市场保持谨慎，达到三周来的最低水平。与此同时，美国期货主要下跌，此前华尔街隔夜第五个交易日上涨，领先于未来几天的通胀数据。根据最新数据，中国各银行上月新增贷款5000亿元，为2009年以来的最低水平。12月中央政府工作会议和政治局会议对中国产生重大催化剂的希望，遏制了看跌势头。

Shares in Hong Kong lost 116 points or 0.6% to 20,311 in Tuesday's morning session, retreating for the second day as most sectors slipped, notably tech, consumer, and financials. Markets reached their lowest level in three weeks amid caution ahead of Chinese activity data for November, including industrial output and retail sales, due later in the week. Meanwhile, US futures were mainly lower after Wall Street rose for a fifth session overnight ahead of inflation figures expected in the following days. On fresh data, Chinese banks extended CNY 500 billion in new loans last month, marking the smallest figures since 2009. Capping the bearish momentum were hopes for a big catalyst in China from the December central government work conference and the politburo meeting.

周一，恒生指数下跌301点，跌幅1.45%，收于29427点，连续第二个交易日下跌，接近三周来的最低水平。此前，中国上周五公布了10万亿元人民币的地方政府债务减免计划，但没有提供直接的财政刺激来提振需求。所有板块均下跌，对唐纳德·特朗普担任下一任美国总统期间中国和华盛顿之间紧张局势加剧的担忧日益加剧。在数据方面，中国的年度通胀率在10月份达到了四个月来的最低水平。，生产者价格通缩加剧。尽管如此，在美国下令台湾芯片制造商台积电停止向中国买家运送先进芯片后，市场收复了早盘跌幅，对北京采取支持措施的希望越来越大。与此同时，周五华尔街创下2023年11月以来的最佳一周后，美国期货小幅上涨。在单一股票中，KE Holdings跌幅最大（-6.0%），其次是新鸿基地产（-5.8%）、中国海外发展（-4.4%）和美团（-3.3%）。

The Hang Seng slumped 301 points or 1.45% to end at 29,427 on Monday, slipping for the second session and nearing its lowest in three weeks after China unveiled a CNY 10 trillion debt-relief package for local govt. last Friday, but offered no direct fiscal stimulus to boost demand. All sectors declined, with worries mounting over heightened tensions between China and Washington under Donald Trump as the next US president. On the data front, China's annual inflation hit its lowest in four months in October., while producer price deflation deepened. Still, markets pared their early losses amid growing hopes of support measures from Beijing after the US ordered chipmaker TSMC in Taiwan to halt shipments of advanced chips to Chinese buyers. Meanwhile, US futures rose modestly after Wall Street hit its best week since November 2023 Friday. Among single stocks, KE Holdings slipped the most (-6.0%), followed by Sun Hung Kai Properties (-5.8%), China Overseas Land (-4.4%), and Meituan (-3.3%).