Hong Kong shares rose 107 points, or 0.6%, to 18,986 on Tuesday morning, marking their first gain in seven sessions amid broad sector gains. The market rebounded from a near four-month low after December trade data showed China's exports expanded and imports hit a 27-month high. Traders also cheered Beijing's decision to allow domestic companies to raise more funds from overseas.
China has also signaled it will boost consumption, expand imports and attract foreign investment this year. Adding to the bullish momentum was a modest rise in U.S. stock futures after a mixed session on Wall Street overnight in which investors shifted away from technology stocks. However, further gains were capped by caution ahead of China's Q4 GDP figures and December activity data, particularly industrial production and retail sales, due later this week. Early movers among large-cap stocks included Zhejiang Leapmotor Tech. (9.0%), Wuxi Biologics (4.6%), Meituan (3.0%), and Semiconductor Manufacturing (1.6%).(AL)
Source: Trading Economics
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