The Hang Seng jumped 497 points, or 2.1%, to close at 23,960 on Friday, ending a five-session losing streak as U.S. index futures rose on signs of potential U.S. government shutdown resistance. Hopes for fresh stimulus to boost China's domestic consumption also supported sentiment, with investors eyeing a key briefing next week by Beijing's top planning agency. Adding to optimism, the northern Chinese city of Hohhot announced large cash incentives to boost births. However, the index fell 1.1% for the week, reversing earlier gains as caution prevailed ahead of key Chinese economic data due...
The Hang Seng Index rose 2.1% to 23,959.98 in Hong Kong, the biggest gain since a 3.3% gain on March 6 and following a 0.6% decline in the previous session. Meituan contributed the most to the index's gain, rising 5.4%. Wuxi Biologics Cayman Inc. was the biggest gainer, rising 14.4%. On the day, 65 of 83 stocks rose, while 18 fell; three of four sectors rose, led by trade and industrial stocks. Source: Bloomberg
Stocks rallied Friday but remained on track for a sharp weekly decline as volatility continued to spread through Wall Street. The Dow Jones Industrial Average was trading 501 points higher, or 1.2%. The S&P 500 was up 1.6%, and the Nasdaq Composite was up 2.1%. Nvidia shares jumped more than 4%. Tesla and Meta Platforms rose more than 1% along with Netflix, Amazon and Apple. Sentiment on Wall Street got a boost Friday as it appeared a government shutdown was averted. Senate Minority Leader Chuck Schumer, D-N.Y., said he would not block a Republican government funding bill. However,...