The Hang Seng closed almost flat at 25,835 on Thursday (November 20), reversing morning gains after four consecutive sessions of losses. Strength in the financial sector helped offset declines in technology, property, and consumer stocks after the People's Bank of China (PBOC) maintained its benchmark interest rate at a record low for the sixth consecutive meeting, reinforcing its accommodative stance.
Sentiment was mixed as media reports suggested China was considering new property support measures, including mortgage subsidies for first-time buyers, higher income tax rebates for mortgage holders, and lower transaction costs. Meanwhile, geopolitical concerns persisted amid reports that Beijing plans to suspend Japanese seafood imports, deepening Sino-Japanese tensions over Taiwan.
On the fiscal front, China raised about USD 8.6 billion by tapping the dollar and euro bond markets over the past two weeks. Techtronic Inds. and KE Hlds. each surged 4.6%, while CITIC Ltd. rose 1.8%. On the downside, Trip.com (-3.9%), Xiaomi (-3.8%), and Zijin Mining (-2.9%) posted sharp losses. (alg)
Source: Trading Economics
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