The Hang Seng added 189 points or 0.9% to end at 20,506 on the first trading day of the month, snapping a two-day decline as factory activity in China recovered last month.
Beijing's recent stimulus measures began to show a positive impact ahead of next week's National People's Congress session, which could launch more initiatives. On the monetary front, the PBoC injected CNY 500 billion via reverse repos late Thursday to keep ample liquidity nearing year-end. Property, consumers, and financials drove the strength, with notable rises from Akeso Inc. (8.4%), Tencent Holdings (3.7%), and Meituan (2.8%).
However, the index trimmed earlier gains, falling 0.5% for the week while marking its fourth period of losses, due to weak earnings in Hong Kong, concerns over US election outcomes, and EU tariffs on Chinese electric vehicles. Li Auto sank 9.5% following a weaker Q4 revenue forecast. Meanwhile, CSPC Pharmaceutical slipped 8.7%, on a preliminary net profit fall for the first nine months.
Source: Trading Economics
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