The Hang Seng Index rose 29 points, or 0.1%, to close at 25,498 on Thursday (December 18), reversing early losses, led by gains primarily from the financial sector. Sentiment improved as mainland Chinese stocks extended gains, with traders shifting to defensive sectors amid concerns over global AI spending and regional tensions.
Investors welcomed data showing China's youth unemployment rate fell to a five-month low of 16.9% in November, signaling a tentative stabilization in the labor market. Meanwhile, China's fiscal revenue grew 0.8% year-on-year in the first 11 months, matching the previous pace, while spending growth slowed to 1.4% from 2%.
In the US, futures traded mixed ahead of key inflation data due later today and after President Trump's year-end address to the nation. On the monetary front, several central banks in Europe and Asia will meet today and Friday, fueling caution over policy divergences. Stocks that experienced significant increases included ZTO Express (2.5%), Prada Spa (2.3%), Techtronic Industries (1.5%), and Henderson Land Development (1.3%). (alg)
Source: Trading Economics
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