The Hang Seng rose 175 points or 0.7% to close at 25,936 on Thursday, partly rebounding from a steep fall the prior day amid firmer U.S. futures ahead of Friday's PCE index and the Fed's final policy meeting of the year, where a 25bps rate cut is widely expected.
Meanwhile, China may keep its 2026 growth target at around 5% as top leaders convene later this month to map out next year's economic agenda. On the corporate front, Country Garden secured shareholder approval for USD 13 billion in convertible bonds as the indebted builder pushes forward with its debt restructuring.
CMOC Hong Kong climbed 1.6% after being slated for inclusion in the FTSE China A50 Index effective December 22, while Innoscience jumped 4.4% following a new strategic cooperation deal with On Semiconductor. Other notable gainers included Xiaomi (4.1%), SMIC (3.8%), and Meituan (2.2%). Still, gains were capped by caution ahead of Hong Kong's November forex reserve data after October snapped a three-month decline.
Source: Trading Economi
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