Hong Kong's equities surged 268 points or 1.2% to 23,205 in early trading on Wednesday, rebounding from a modest decline in the prior session.
Investors reacted positively to a copy of China's work report, which set a 2025 GDP growth target of around 5% and outlined stimulus measures to support the economy, amid rising trade tensions with the US.
On the inflation front, the document showed Beijing lowered the annual inflation target to around 2% for the first time in over two decades. Traders also welcomed private survey data indicating an unexpected rebound in services activity from January's four-month low, driven by increases in new orders and foreign sales, along with broad stabilization in employment.
All sectors were in the green, led by consumers, tech, and property. A rally in US futures also added to the bullish mood, following a slump on Wall Street's S&P 500 and Dow Jones overnight.
Source: Trading Economics
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