A Standard Chartered Hong Kong business index declined by 2.9 points in a fourth-quarter survey, reflecting that local SMEs turned conservative amid uncertainties in global economic growth, says the Hong Kong Productivity Council.
The Hong Kong Small and Medium Enterprises Leading Business Index slipped to 44.2 points, after recording its largest-ever jump of 11.4 points for the third quarter to 47.1 points.
The survey investigated 930 SMEs from 11 industries in September. When higher than 50, the index means the SMEs are optimistic about the environment.
Three major sector indices dropped, with manufacturing falling the most at six points, followed by retail and the import, export trade and wholesale sector.
The ailing property sector recorded the largest slump in all industries, 6.7 points lower than last quarter.
Meanwhile, DBS Hong Kong launched no-fee account opening offers for SMEs to support their recovery. The lender's number of new loan applications from SMEs has jumped 32 percent year-on-year.
