The Hang Seng jumped 196 points, or 1.0%, to close at 19,746 on Tuesday, recovering from morning losses after China's central bank pledged to adopt supportive policies next year and ease financing costs for businesses and households. Governor Pan Gongsheng also said he intends to continue reforming the PBoC's monetary policy framework and expand its policy tools.
The index closed higher for a third straight session, with positive sentiment buoyed by a Bloomberg News report that China's top leaders are scheduled to begin their annual closed-door Central Economic Work Conference next Wednesday to set goals and outline stimulus plans for 2025. Investors also shrugged off fresh U.S. chip curbs, as Beijing has strongly signaled it will take necessary action to protect its interests. All sectors advanced, led by financials and property. Top performers included Wuxi Biologics (7.4%), Wharf Holdings (5.6%), Kunlun Energy (3.0%), Hang Seng Bank (3.4%), and Techtronic Inds. (3.3%).
Source: Trading Economics
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