Hong Kong stocks were little changed on Thursday morning trade, hovering around 25,895 after Wednesday’s rally. Financials saw modest gains, while weakness in property and tech capped broader momentum. Investors are eyeing key Chinese data next week, including September industrial output, retail sales, Q3 GDP, and the monthly loan prime rate fixing. Meantime, China’s September CPI and PPI continued to highlight persistent deflation risks. Globally, U.S. futures were subdued, as traders weighed strong earnings against rising U.S.-China trade tensions. Meanwhile, U.S. Treasury Secretary Scott Bessent suggested a possible extension of Chinese import duty pauses if Beijing halts new rare-earth export controls. Gold-related shares advanced, led by Laopu Gold (6.2%), Zijin Gold Intl. (3.3%), and Zhijin Mining (1.9%), while Sun Hung Kai Properties (-3.0%), Xiaomi (-2.8%), and XPeng (-2.6%) dragged the market lower.