The Hang Seng rose 192 points, or 0.7%, to finish at 26,160 on Friday, extending gains from the prior session. The increase came after Shanghai shares hit a 10-year peak, on strong inflows and China's pledge at the conclusion of a plenum to boost the household consumption's share in GDP over the next five years.
Policymakers also reaffirmed their commitment to meet 2025 economic targets and support tech self-reliance. Gains were broad-based, led by tech, consumer, and property stocks. SMIC jumped 7.4%, followed by Horizon Robotics (6.1%), China Hongqiao Group (4.1%), and Trip.com (3.3%).
For the week, the index climbed 3.6%, its first rise in three weeks, boosted by easing Sino-U.S. trade tensions after confirmation that President Trump will meet Chinese leader Xi Jinping in South Korea next week. Meantime, the U.S. Fed is widely expected to cut rates next week and again in December. Further gains in Hong Kong, however, were tempered by caution ahead of September trade and Q3 GDP data.
Source: Trading Economi
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