Hong Kong stocks rose 142 points, or 0.7%, to 20,067 on Tuesday (21/1), marking a sixth session of gains while holding at a three-week high. The bullish momentum emerged after Donald Trump did not target China in his inauguration speech on Monday, nor did he immediately impose previously threatened tariffs. Meanwhile, Chinese President Xi Jinping urged policymakers to adopt more proactive macroeconomic policies this year to maintain growth momentum.
The property sector led the gains, with struggling Country Garden shares surging nearly 20% after resuming trading after a nine-month suspension. The technology index also edged higher after Xi Jinping reiterated the need for high-tech self-reliance. On the policy front, the PBOC kept its main lending rate at a record low for a third month amid renewed pressure on the yuan. Notable movers included Semicon Manufacturing (4.1%), WH Group Ltd. (3.7%), Sunny Optical Tech. (2.9%), and China Resources Land (2.6%). (AL)
Source: Trading Economics
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