The Hang Seng surged 776 points, or 3.3%, to close at 24,370, marking its third straight gain and its highest level in more than three years, with all sectors gaining. Investors viewed policy signals from China's annual parliamentary meeting positively, prompting increased buying. The technology sector rose 5.4%, led by an 8.5% surge in Alibaba Group, which has surged 46% since hitting a 2025 low on Jan. 13, on optimism over its AI development efforts.
Consumer, property and financial stocks also rose strongly, as traders bet that the latest U.S. tariff hike under President Trump would not derail market sentiment, especially amid Beijing's 2025 fiscal stimulus. However, caution remains ahead of key Chinese data, including trade figures for January-February on Friday, and CPI and PPI data on Saturday. China's Greentown rose 7.7% on strong February sales, while Kuaishou Tech (15.8%), KE Holdings (10.4%), Kingsoft Corp. (10.9%), Tencent (6.7%), and Meituan (5.1%) also posted solid gains. (Newsmaker23)
Source: Trading Economics
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