The Hang Seng Index surged 252 points, or 1%, to close at 26,158 on Monday, reversing losses from the previous three sessions amid broad sector gains. Sentiment was boosted by the US-China trade truce, which includes US tariff reductions and the suspension of Beijing's new export restrictions on rare earth minerals and magnets.
The US is also expected to suspend port fees for a year for ships connected to China starting next week. Local data supported the rally, with Hong Kong's economy growing 3.8% year-on-year in Q3, the fastest since late 2023, while retail sales rose 4.8% in September, the highest in nearly two years.
These gains were tempered by private survey data showing China's factory activity growth slowed from a six-month high in October following the Golden Week holiday. Financial stocks jumped around 2%, led by AIA Group (5.3%), Industrial and Commercial Bank of China (2.5%), and Bank of China Hong Kong (1%). Property stocks rose 1.4%, led by gains from Sun Hung Kai Properties (2.1%) and CK Asset Holdings (1.9%). (alg)
Source: Trading Economics
The Hang Seng Index rose for the fourth day, climbing 0.6%, or 150.3 to 27,073.03 in Hong Kong. The index advanced to the highest closing level since Oct. 3. Alibaba Group Holding Ltd. contributed th...
Hong Kong stocks fell on Thursday after hitting a one-month high, as investors opted to remain cautious ahead of the release of quarterly earnings reports from major tech companies, including Tencent ...
The Hang Seng rose 215 points or 0.8% to finish at 26,911 on Wednesday, increasing for the third consecutive session and reaching a one-month peak amid widespread gains across sectors. Sentiment stren...
The Hang Seng rose 215 points or 0.8% to finish at 26,911 on Wednesday, increasing for the third consecutive session and reaching a one-month peak amid widespread gains across sectors. Sentiment stren...
Asian stock markets, particularly in Hong Kong, surged on hopes that the United States would soon cut interest rates. This news came after data showed the US labor market weakened last month, increasi...
Global supply continues to surge as production from the OPEC+ bloc has resumed production cuts, while non-OPEC producers such as the US, Brazil, and Canada are actively adding capacity. For example, reports suggest that global supply growth could...
Gold remains supported by growing market expectations for monetary policy easing by the Federal Reserve, as investors doubt whether the data released after the government shutdown will support the economy. With US interest rates potentially...
Gold prices rose on Thursday, hitting a more than three-week high, on expectations that the U.S. government reopening would increase debt levels, while delayed economic data could bolster the case for a Federal Reserve rate cut next month. Spot...
Global financial market optimism has increased after the latest data indicated a strong chance that the Federal Reserve (The Fed) will cut interest...
Fed increasingly fractured over Dec rate cut
Federal Reserve officials are growing increasingly fractured over whether to cut interest rates in...
Asian stocks advanced for a second consecutive day as progress toward ending the record-long US government shutdown lifted sentiment,...
Lawmakers returned to Washington on Tuesday (November 11th), after a 53-day recess, facing crowded airports across the country for a vote that could...