The Hang Seng edged up 29 points or 0.1% to finish at 22,692 on Wednesday, aiming for the fifth straight session of gains, mainly helped by strength in property and financial stocks. Investors assessed the PBOC's plan to cut the RRR by 50bps as part of efforts to boost growth and counter trade headwinds.
Meanwhile, U.S. futures jumped on bets that the Fed will hold interest rates steady for the third meeting later today, amid easing inflation and a strong labor market. Also in focus, U.S. Treasury Secretary Bessent and trade chief Greer are set to meet with China's top economic officials in Switzerland this weekend for trade talks.
However, the index gave up most early solid gains as caution mounted ahead of key Chinese data releases, including April trade figures and CPI/PPI reports. Some analysts also noted the lack of broader fiscal stimulus so far from Beijing. Notable gainers included SITC Intl. Hlds. (3.2%), AIA Group (3.1%), J&T Global Express (2.5%), and Li Auto (2.4%).
Source: Trading Economics
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