The Hang Seng rose 237 points, or 1.2%, to close at 19,523 on Thursday (16/1), marking its third straight day of gains after a strong session on Wall Street on Wednesday, amid growing bets on a potential Fed rate cut this year following a slowdown in U.S. core inflation. The index was at its highest in a week after dropping to a nearly four-month low last week, boosted by reports from Chinese state media that the central bank may cut RRRs for commercial banks before the Spring Festival in late January, providing more liquidity for the economy.
Traders shrugged off news that the U.S. tightened its technology curbs and added more Chinese entities to its restricted trading list. Capping further gains was caution ahead of key data on Friday, including China's Q4 GDP, and December readings for retail sales and industrial output. All sectors rose, led by financials, technology and discretionary consumer goods. Top performers included China Hongqiao Group (+5.3%), Geely Auto (3.7%), Techtronic Inds. (2.6%), and AIA Group (2.3%).(AL)
Source: Trading Economics
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