周四，恒生指数下跌285点，跌幅1.1%，收于25058点，在广泛下跌的情况下连续第三个交易日下跌。该指数追踪了大陆股市的下跌，此前有报道称中国正在考虑为股市降温，包括放宽一些卖空限制。这一消息引发了获利回吐，此前8月份中国股市在创纪录的保证金融资和大量交易的推动下飙升了10%，引发了过热担忧。科技指数下跌1.9%，受Cambricon股价暴跌拖累，原因是担心与内地市场即将进行的指数再平衡相关的资金外流。房地产、消费者和金融股也因持续的全球财政担忧而下跌。本月晚些时候，在美国就业岗位空缺数据疲软后，美联储降息的预期在一定程度上缓解了损失。主要下跌股包括地平线机器人（-6.9%）、中芯国际（-6.4%）、快手科技（-3.1%）、创新生物（-6.6%）、汉索制药（-4.4%）和股份有限公司（-4.2%）。

The Hang Seng dropped 285 points or 1.1% to close at 25,058 on Thursday, falling for the third session amid broad-based losses. The index tracked declines in mainland shares after a report that China is mulling cooling measures for the stock market, including easing some short-selling curbs. The news prompted profit-taking after a 10% surge in Chinese stocks in August, fueled by record margin financing and heavy trading, which raised overheating concerns. The tech index slumped 1.9%, dragged by a plunge in shares of Cambricon, due to worries over fund outflows tied to an upcoming index rebalancing in mainland markets. Property, consumer, and financial shares also dipped on persistent global fiscal concerns. Losses were partly cushioned by expectations of a Fed rate cut later this month following weaker U.S. job openings data. Major decliners included Horizon Robotics (-6.9%), SMIC (-6.4%), Kuaishou Tech (-3.1%), Innovent Biologics (-6.9%), Hansoh Pharma (-4.4%), and Akeso Inc. (-4.2%).

香港股市在周四早盘交易中下跌234点，跌幅近1.0%，至25100点，这是在板块普遍下跌的情况下连续第三次下跌。随着交易员继续权衡主要经济体的财政压力，市场情绪越来越谨慎。恒生指数还跟踪了内地股市，彭博社报道称监管机构正在为中国市场准备降温措施后，内地股市第三个交易日延续下跌。尽管如此，私人调查数据显示，受国内需求稳定的帮助，香港私营部门8月份自1月份以来首次增长，部分抵消了下行压力。与此同时，包括州长克里斯托弗·沃勒在内的美联储官员表示支持未来几个月的降息。比亚迪公司股价下跌2.3%，此前该公司将年度销售目标下调了16%，至460万辆。与此同时，地平线机器人（-6.0%）、中国虹桥集团（-5.5%）、中芯国际（-4.1%）和波普国际（-1.8%）也出现了大幅亏损。

Hong Kong shares fell 234 points or nearly 1.0% to 25,100 in Thursday morning deals, marking the third straight decline amid broad-based sector losses. Sentiment was increasingly cautious as traders continued to weigh fiscal strains in major economies. The Hang Seng also tracked mainland equities, which extended losses for the third session following a Bloomberg News report that regulators are preparing cooling measures for Chinese markets. Still, downside pressure was partly offset by private survey data showing Hong Kong’s private sector grew in August for the first time since January, helped by stabilizing domestic demand. Meanwhile, U.S. Fed officials, among them Governor Christopher Waller, signaled backing for interest rate cuts in the coming months. BYD Co. dropped 2.3% after cutting its annual sales target by up to 16% to 4.6 million vehicles. Meanwhile, Horizon Robotics (-6.0%), China Hongqiao Group (-5.5%), SMIC (-4.1%), and Pop Mart Intl. (-1.8%) also posted steep losses.

周三，恒生指数下跌153点，跌幅0.6%，收于25343点，连续第二天下跌。由于对全球财政压力的担忧日益加剧，全球股市下跌。与此同时，道琼斯期货价格明显下跌，受到美国制造业连续第六个月下跌的压力。美国一家意见分歧的上诉法院裁定特朗普总统的大部分关税是非法的，这增加了不确定性，尽管这些措施将一直持续到10月14日，等待最高法院可能的上诉。在俄罗斯普京和朝鲜金正恩参加的中国阅兵式引发了国防相关股票的获利回吐后，所有行业都出现了亏损。在当地，香港监管机构启动了一项涉及港交所至少两名个人的内幕交易调查。私人调查数据显示，8月份中国服务业活动增长15个月来最多，这缓冲了损失。跌幅最大的包括恒基兆业地产（-3.7%）、太古地产（-3.2%）和比亚迪（-2.5%）。

The Hang Seng fell 153 points or 0.6% to end at 25,343 on Wednesday, slipping for the second day as global equities retreated due to growing concerns over fiscal strains worldwide. Meanwhile, Dow Jones futures were notably lower, pressured by the sixth straight monthly drop in U.S. manufacturing. Adding to uncertainty, a divided U.S. appeals court ruled most of President Trump’s tariffs illegal, though the measures will remain in place until October 14 pending a likely Supreme Court appeal. All sectors moved in the red after a military parade in China, attended by Russia’s Putin and North Korea’s Kim Jong Un, prompted a profit-taking in defense-related shares. Locally, Hong Kong regulators launched an insider trading probe involving at least two individuals at HKEX. Losses were cushioned by private survey data showing China’s services activity rose the most in 15 months during August. Major decliners included Henderson Land (-3.7%), Swire Properties (-3.2%), and BYD Co. (-2.5%).

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Equities in Hong Kong slipped 66 points or 0.3% to 25,438 in early trade on Wednesday, marking losses for the second consecutive session after a weak lead from Wall Street overnight, where investors weighed the outlook for President Donald Trump’s tariffs following a federal appeals court ruling that most of his sweeping measures were illegal. A further drop in mainland shares also dampened sentiment, even as a private survey showed China’s composite PMI rose to a 9-month high in August, pointing to a third straight month of private sector growth on broad-based gains in manufacturing and services. Property stocks led declines, with Swire Properties down 3.4%, followed by Henderson Land Development (-2.9%), and China Overseas Land (-0.9%). By contrast, tech and consumer names advanced as markets looked ahead to Chinese President Xi Jinping’s address at the country’s largest-ever military parade today, joined by Russia’s Vladimir Putin and North Korea’s Kim Jong Un.