The Hang Seng fell 63 points, or 0.2%, to 26,283 on Thursday, reversing early gains and marking a second consecutive session of declines. Sentiment turned cautious despite China’s commerce ministry saying Beijing and Washington had agreed to extend their temporary trade truce for another year following a meeting between U.S. President Trump and Xi Jinping in South Korea. Traders noted that significant gaps remain, with partial tariff rollbacks unlikely to aid struggling Chinese exporters or reverse weak domestic consumer demand. Caution also built ahead of China’s October PMI readings and Hong Kong’s Q3 GDP report. Meanwhile, U.S. futures were mixed after the Fed’s second rate cut of the year, which suggested further easing is not guaranteed. Most sectors ended lower, led by property and technology, while notable single-stock declines included Techtronic Industries (-5.0%), Sunny Optical Tech (-4.8%), Prada Spa (-4.3%), Trip.com (-3.4%), and Henderson Land Development (-2.6%).