What Caused the Hang Seng to Sudden Surges?
Hong Kong stocks rebounded strongly in the morning session on Monday (November 24th), rising 266 points or 1% to 25,478 after six consecutive days of declines. This increase occurred as investors began buying low-priced stocks, particularly in the property, financial, and technology sectors. Sentiment was also boosted by strengthening US index futures, after New York Fed President John Williams signaled that interest rates could be cut again this year due to the weakening labor market. Furthermore, Premier Li Qiang's comments on China's critical minerals policy, emphasizing a balance between security and cooperation, also boosted market confidence.
Nevertheless, investors remained cautious ahead of key data releases, such as Chinese industrial profits later this week and Hong Kong's October trade data due out on Tuesday. Several stocks were early movers, including pharmaceutical companies Innovent Biologics, Hansoh Pharma, and Akeso Inc. CK Hutchison, Kuaishou, and Xiaomi also rallied as risk appetite recovered in regional markets. (az)
Source: Newsmaker.id
