The Hang Seng rose 61 points, or 0.3%, to close at 19,584 on Friday, marking its fourth session of gains amid upbeat economic data from China. The country's GDP grew 5.4% year-on-year in Q4, the fastest pace since Q2 2023, meeting the official target of around 5% thanks to stimulus measures in recent months. Meanwhile, industrial output rose 6.2% year-on-year in December, the highest in eight months, and retail sales recovered from a three-month low in November.
Locally, figures from the Hong Kong Tourism Board showed tourist arrivals in the city jumped 31% to nearly 45 million in 2024, with the mainland contributing the most with 34 million visitors. Gains were capped by caution ahead of China's key monthly lending rate decision next week. Property and technology posted strong gains, while consumer spending rose modestly. Among the biggest movers were China Hongqiao Group (4.6%), Tingyi (Cayman Islands) Hlds. (3.7%), and Henderson Land Dev. (3.0%). On a weekly basis, the index jumped 2.7% after declining in the previous two periods. (AL)
Source: Trading Economics
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