Hong Kong stocks ended the week in positive territory after three straight sessions of losses, as investors welcomed policy stability after both the People's Bank of China and the city's de facto central bank held key interest rates steady.
The Hang Seng Index climbed 292.74 points, or 1.3%, to close Friday's session at 23,530.48, while the Hang Seng China Enterprises Index rose 116.13 points, or 1.4%, to 8,527.07.
The Hong Kong Monetary Authority kept the base rate unchanged at 4.75%, mirroring the US Federal Reserve's decision to maintain its rate target at between 4.25% to 4.5%.
As Hong Kong's currency is pegged to a narrow trading band between HK$7.75 and HK$7.85 per US dollar, the linked exchange system means the city raises or cuts borrowing costs in lockstep with rate changes by the Fed.
China left the one-year loan prime rate unchanged at 3% this month, and the five-year rate at 3.5%, according to the central bank.
On the geopolitical front, US President Donald Trump will decide within two weeks whether to strike Iran, his spokeswoman said, and there was a "substantial chance" of a negotiated settlement as Israel carried out strikes on dozens of military targets in Iran overnight.
In corporate news, Pop Mart International, the maker of toys and figures including the wildly popular Labubu, tumbled about 4% after a Chinese state media commentary urged tighter oversight of blind-box toys and trading cards.
Bloks Group, which sells similar products such as assembly character toys, fell as much as 10%.
Source : MT Newswires
The Hang Seng rose 106 points or 0.4% to close at 25,541 on Wednesday, rebounding from morning losses and closing in the green for the first time in three sessions as most sectors gained. Sentiment i...
Hong Kong's Hang Seng Index weakened again for the third consecutive day on Wednesday, falling 0.5% to 25,382.56 in the morning session. Sentiment was weighed down by investor concerns as they awaited...
The Hang Seng Index plunged 331 points, or 1.3%, to close at a two-week low of 25,434 on Tuesday (December 9), extending its decline for a second session amid broad sector weakness. Investors were ne...
Hong Kong stocks opened lower on Tuesday, with the Hang Seng Index falling around 196 points, or 0.8%, to 25,565, extending its decline for a second session. Sentiment was weighed down by concerns tha...
The Hang Seng Index plunged 320 points, or 1.2%, to close at 25,765 on Monday (December 8), reversing gains from the previous two sessions as most sectors weakened, particularly the financial, propert...
Federal Reserve Chairman Jerome Powell attributed the surge in inflation above the 2% target to the import tariffs imposed by President Donald Trump. In a press conference following the FOMC meeting, Powell explained that much of the current...
The Federal Reserve on Wednesday said that it would start buying short-dated government bonds to help manage market liquidity levels to ensure the central bank retains firm control over its interest rate target system. The technically oriented...
European equities edged lower on Wednesday as investors adopted a cautious stance ahead of the Federal Reserve's policy decision, limiting risk taking across regional markets. The STOXX 50 fell 0.3%, while the STOXX 600 was little changed,...
The Job Openings and Labor Turnover Survey (JOLTS) will be released on Tuesday by the U.S. Bureau of Labor Statistics. Due to the prolonged...
The latest survey data from the US Bureau of Labor Statistics has reported an increase in JOLTs Job Openings, a key indicator of the health of the...
Asian stock markets started the week cautiously. The MSCI Asia Index fell slightly by 0.1%, in line with weakening US index futures. Australia also...
European stocks weakened at the opening bell on Monday (December 8th) as global investors focused on this week's US Federal Reserve monetary policy...