The Hang Seng rose 137 points or 0.7% to close at 20,264 on Wednesday, snapping a two-day losing streak. The rebound came after early-session losses, driven by gains in tech, consumers, and property. Sentiment improved following Premier Li Qiang's remarks that Beijing is "fully capable of hedging against adverse external influences," including the newly imposed 104% U.S. import tariffs.
A rally in mainland stocks also lifted the mood, as state-owned firms stepped in to support markets. Top Chinese brokerages pledged to stabilize share prices, and some listed companies launched stock buyback plans. Adding to the optimism was a rise in U.S. futures ahead of the March FOMC meeting minutes.
The tech index climbed 2.6%, reflecting investor confidence in China's push for technological self-reliance. Standout tech performers included SMIC (10.5%), Meituan (4.8%), and Kuaishou Tech. (1.9%). Meanwhile, Xiaomi (8.6%), Mixue Group (7.5%), and China Resources Beer (6.8%) also posted strong gains.
Source: Trading Economics
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