Hong Kong stocks rose modestly on Tuesday, as investors positioned ahead of the Politburo meeting in China that could set the economic tone for the rest of the year, while sentiment remained upbeat following the launch of the world's largest hydropower dam project on the eastern rim of the Tibetan Plateau.
The Hang Seng Index gained 135.89 points, or 0.5%, to close at 25,130.03, while the Hang Seng China Enterprises Index (HSCEI) added 35.40 points, or 0.4%, to 9,075.60.
Focus is now on the upcoming Politburo meeting, convened by Chinese President Xi Jinping later this month, which could offer clues on how Beijing plans to manage trade tensions and the faltering property sector.
Investors are also anticipating signals on potential curbs to excess capacity in emerging sectors such as solar, EVs, and lithium batteries, a step seen as key to reversing the prolonged decline in factory-gate prices.
Meanwhile, sentiment was further lifted after Chinese Premier Li Qiang announced over the weekend the launch of construction on what is set to become the world's largest hydropower dam, a 1.2 trillion yuan project in the lower reaches of the Yarlung Tsangpo River.
In corporate moves, UBTech Robotics (HKG:9880) lost nearly 6% to end the session at HK$85.10 after planning to raise HK$2.4 billion through its share placement.
Source : MT Newswires
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