The Hang Seng fell 393 points, or 1.5%, to 25,217 on Tuesday, closing at a near four-week low and extending the prior session’s sharp drop as mainland stocks slipped further and traders turned increasingly uneasy ahead of key U.S. data this week. Meantime, China’s economy showed more signs of slowing in November, with industrial output and retail sales disappointing. Property shares led losses amid concerns over a prolonged downturn, notably after China Vanke said it would convene a second bondholder meeting following its failure to secure approval to extend a bond payment due Monday. Tech, consumer, and financial stocks also retreated, with momentum lacking after major policy meetings in China ended last week. Still, losses eased as local data pointed to Hong Kong’s strongest Q3 manufacturing growth in near three years. Xiaomi dipped 2% on smartphone headwinds, while Zijin Gold (-5.9%), Tencent Music (-3.4%), China Hongqiao (-2.9%), and SMIC (-2.2%) were among the biggest laggards.