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Hang Seng Bounces Back at Close
Monday, 24 March 2025 15:24 WIB | HANGSENG |HANG SENG

The Hang Seng climbed 216 points or 0.9% to finish at 23,905 on Monday, rebounding from a subdued morning session. The rally followed strong gains in U.S. futures after President Trump hinted at possible "flexibility" in his reciprocal tariff plan ahead of the April 2 deadline.

Meanwhile, Fed Chair Powell last week downplayed the long-term impact of the tariffs, easing investor concerns. Markets welcomed Premier Li Qiang's renewed pledge for more proactive macroeconomic policies. Meantime, the PBoC reiterated plans to cut banks' RRR and interest rates at an "appropriate time" later this year to support the recovery.

Adding to the optimism, Morgan Stanley raised its 2025 China GDP growth forecast by 50bps to 4.5%, citing stimulus-driven support for local governments and consumption.

Most sectors advanced, led by tech, consumer, and financial stocks. Top performers included Zhejiang Leapmotor (4.8%), Xiaomi Corp. (3.9%), CK Hutchison Hlds. (3.8%), and Semicon Manufacturing (2.9%).

Source: Trading Economics

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