The Hang Seng jumped 298 points or 1.2% to close at 24,475 on Wednesday, rising for the fourth straight session and notching its highest level in over three months. The rally tracked strong gains on Wall Street, as the U.S.-brokered truce between Iran and Israel appeared to hold, with both nations signaling an end to their air strikes, at least for now.
Meanwhile, Fed Chair Powell reiterated there's no need to rush rate cuts, though some analysts believe easing could come sooner if inflation remains contained. In China, Beijing unveiled new guidelines to boost consumption through financial tools aimed at supporting jobs, raising incomes, and strengthening the broader economy.
Premier Li Qiang also expressed confidence in maintaining relatively rapid growth and transitioning toward a consumer-driven economy. Gains were broad-based, led by property, tech, and financials. Standout performers included JD Logistics (6.7%), SMIC (6.4%), Henderson Land (4.7%), and Longfor Group (3.7%).
Source: Trading Economics
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