Hong Kong stocks rose 21 points, or 0.12%, to 19,258 on Monday morning (11/25) after falling in the previous two sessions, mainly supported by gains in the financial sector. The market is trying to recover from a near two-month low after China's central bank kept the interest rate on its one-year medium-term lending facility unchanged at 2% for a second straight month following a record 30bps cut in September.
Meanwhile, U.S. stock futures jumped as concerns over Donald Trump's impact on other countries' economies eased after the president-elect named Scott Bessent as Finance Minister. Investors anticipate that Bessent will prioritize economic and market stability over political maneuvering. Further gains were capped by caution ahead of China's official PMI readings for October and industrial profits for the first ten months of the year later this week. Among the big-cap stocks that performed well early were Akeso Inc. (5.3%), Sunny Optical Tech (3.5%), BYD Electronic (3.1%), and Geely Auto (2.5%).
Source: Trading Economics
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