The Hang Seng Index rose 304 points, or 1.2%, to close at 25,938 on Tuesday (September 9), extending its gains for a third session and reaching a four-year high thanks to broad sector strength. Sentiment was boosted amid speculation of a US interest rate cut as early as next week following weak US employment data, alongside Wall Street's gains that pushed the Nasdaq to a record close on Monday.
Property stocks led the rally, rising 1.8% after Shenzhen eased restrictions on home purchases. Sentiment was also boosted by reports that China renewed bilateral currency swap agreements with several European central banks, including the ECB and SNB.
However, gains were capped by caution ahead of the August CPI and PPI data due Wednesday in China, with deflationary risks lingering after flat consumer prices in July and the 34th consecutive decline in producer prices. Country Garden Holdings surged 23.5% due to its participation in the stock connection program. Other solid performers included Alibaba Health (9.7%), JD Health Intl. (6.7%), Kuaishou Tech (3.7%), and China Overseas Land (3.3%). (alg)
Source: Trading Economics
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