Hong Kong equities jumped 375 points or 1.6% to 24,338 in Monday morning trading, extending gains for the second session. Optimism over China's newly announced "Special Action Plan to Boost Consumption," aimed at stimulating domestic demand, supported the rally.
In addition, state media Xinhua said that Beijing also plans to stabilize the stock and real estate markets, boost the birth rate, and support inbound and domestic tourism.
These comprehensive measures were unveiled on Sunday. On the economic data front, China's industrial output rose 5.9% yoy in the first two months of 2025, surpassing the 5.3% forecast, while retail sales increased 4.0%, in line with expectations.
Most sectors increased, led by financials, property, and consumers. Further gains were limited by a sharp drop in US futures, following a strong rally on Wall Street Friday, driven by soft inflation data that eased economic concerns.
Source: Trading Economics
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