The Hang Seng index surged 359 points, or 1.4%, to close at 25,418 on Friday, ending a three-day losing streak. Optimism improved after Wall Street's S&P 500 hit a record high on Thursday, with traders betting that the Fed would cut interest rates this month amid further signs of a weakening US labor market.
For the week, the index also gained 1.4%, reversing the previous week's decline, supported by a CNY 1 trillion liquidity injection from China's central bank. Gains were capped by the sharpest weekly decline in five months in mainland stocks as traders booked profits following a two-month rally and the conclusion of China's military parade. All sectors participated in the rally, with technology, consumer discretionary, and property among the best-performing sectors.
Ubtech Robotics shares jumped 4.4% after securing a CNY 250 million humanoid robot contract, while WuXi XDC Cayman rose 3.6% after announcing a HKD 2.73 billion share sale. Other leading stocks included Horizon Robotics (9.5%), SMIC (6.0%), Hansoh Pharma (4.6%), and China Hongqiao (4.6%). (alg)
Source: Trading Economics
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