The Hang Seng surged 595 points or 2.5% to end at a 3-year high of 24,740 on Tuesday, keeping solid gains for the second day amid broad-based sector advances. The tech index led the rally, jumping 4% and tracking a rise at the Nasdaq Golden Dragon China Index Monday, ahead of tech earnings. BYD Co. hit a record after unveiling new fast-charging that rivals traditional refueling times. Baidu soared 12.2% after launching new AI models, while Alibaba and Tencent each climbed 5.5% and 3.0%. Consumers and financials also saw strong gains, buoyed by strong spending in China during early 2025, and reports that inflows for Chinese stocks saw a record high in February. Some top movers among large caps were Smoore Intl. (8.7%), China Merchants Port (8.1%), Zhaojin Mining (5.6%), and Wuxi Biologics (5.3%). Gains were capped by a slight dip in US futures ahead of the Fed's rate move. In China, the PBoC is set to review its key lending rates Thursday after keeping them at record lows in February.
Source: Trading Economics
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