Hang Seng Closes Little Changed Amid Mixed Sector Moves
The Hang Seng ended almost flat at 25,835 on Thursday, reversing morning gains after four straight sessions of losses. Strength in financials helped offset declines in tech, property, and consumer stocks after the PBoC kept key lending rates at record lows for the sixth straight meeting, reinforcing its accommodative stance.
Sentiment was mixed as media reports suggested China is mulling fresh property support, 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 imports of Japanese seafood, deepening Sino-Japanese tensions over Taiwan. On the fiscal front, China raised about USD 8.6 billion by tapping dollar and euro bond markets over the past two weeks.
Techtronic Inds. and KE Hlds. jumped 4.6% each, while CITIC Ltd. rose 1.8%. On the downside, Trip.com (-3.9%), Xiaomi (-3.8%), and Zijin Mining (-2.9%) posted sharp losses.
Source: Tradingeconomics.com
