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Profit booking pauses Hong Kong equities after sustained rally
Profit taking halted Hong Kong stocks seven session rally, with analysts citing stretched valuations and warning markets now await China data, earnings cues and sentiment.
Hong Kong equities retreated as investors booked profits after a seven day rally driven by policy optimism and China recovery hopes. The Hang Seng slipped with tech and property stocks leading declines, while volumes thinned. Analysts said profit taking was expected amid stretched valuations, cautioning that near term direction will hinge on China data, earnings updates and global risk sentiment ahead during coming weeks period