The Hong Kong stock market jumped 297 points or 1.5% to 20,717 on Tuesday morning trade, surging for the third session and reaching its highest level in a month after a readout of China's Politburo meeting indicated that China next year will adopt a more proactive fiscal policy to bolster recovery, alongside an appropriately loose monetary policy for the first time in 14 years.
Beijing will also focus on boosting demand and spurring consumption. Traders keenly anticipated the Central Economic Work Conference this week, where key targets and policy directions for 2025 will be set. However, vigilance ahead of trade data in the mainland capped further gains, as figures will be released later today.
Markets expected a slowdown in exports after surging to an over 2-year top in October. Gains were broad-based across sectors, led by property, consumer, and tech. Among big-cap stocks, early performers included Geely Auto (4.7%), China Feihe (4.4%), Bosideng Intl. (4.0%), and Meituan (3.5%).
Source: Trading Economics
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of ...
The Hang Seng Index extended its rally for the third consecutive day in the latest trading session in Hong Kong on Wednesday (February 11). The index rose 0.3%, or 83.23 points, to close at 27,266.38,...
The Hang Seng continued to strengthen on Tuesday (February 10th), rising 156 points (0.6%) to close at 27,183. This marked a second consecutive day of gains, with most sectors contributing to the mark...
Hong Kong stocks surged on Monday morning. The Hang Seng Index rose 488 points, or around 1.8%, to 27,051, rebounding after weakening in the previous session. Sentiment was also lifted by Wall St...
The Hang Seng Index weakened 1.2% to close at 26,559.95 in Hong Kong trading on Friday (February 6). This decline brought the Hang Seng Index to its lowest closing level since January 20, after a slig...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...