Shares in Hong Kong soared 319 points or 1.7% to 19,594 on Thursday morning session, holding their bullish momentum for the third session following an overnight rally on Wall Street on the back of an unexpected decline in US core inflation figures for December and robust bank earnings. Markets reached their highest level in a week, rebounding from a near 4-month low, touched last week, buoyed by robust gains across sectors. Li Ning surged nearly 3.0% after reclaiming the official sportswear partnership with the Chinese Olympic Committee.
Additionally, UBTech Robotics climbed over 2% after announcing a long-term strategic cooperation with Foxconn to implement the application of humanoid robots in intelligent manufacturing. Meantime, HSBC Hlds. rose 1.8%, hitting its highest level in 6-1/2 years, on strong financial performance. However, caution ahead of Friday's release of China's Q4 GDP, along with December retail sales and industrial production data, limited further gains.(Cay) Newsmaker23
Source: Trading Economi
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