Hang Seng Rises, Investors Weigh China Data vs. Geopolitics
Hong Kong stocks rallied on Friday (April 10), with the Hang Seng Index rising 117 points, or 0.6%, to close at 25,893, recovering from a brief decline in the previous session. The rally was driven by improving sentiment after indications that industrial deflation in China was easing, raising hopes of a turning point in factory-price pressures that could support corporate profits and economic growth.
However, the market remains vigilant about external risks. The fragile US-Iran ceasefire is again under pressure from mutual accusations of breaching commitments, including the Strait of Hormuz issue, while Israeli attacks in Lebanon have heightened tensions ahead of talks in Pakistan.
Sectorally, most sectors gained, led by financial and technology stocks. Key movers included Semiconductor Manufacturing (+4.6%), Guotai Junan International (+27.7%), Deepexi Technology (+48.8%), Shenzhen Xunce Technology (+7.6%), and Geely Automobile Holdings (+2.5%).
Source: Newsmaker.id