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Hang Seng Materials index seen opening sharply lower
Hong Kong’s Hang Seng Materials Index was set to open sharply lower as weak metal prices and China demand concerns hurt sentiment.
Hong Kong’s Hang Seng Materials Index was set to open over 3% lower, tracking sharp losses in global metal prices. Weak cues from China demand, falling iron ore and copper prices, and a stronger dollar weighed on sentiment. Investors turned cautious ahead of key macro data, while broader Asian markets remained under pressure amid risk off trade and commodity sector selling during early trading hours.