Hang Seng Edges Higher at Finish
The Hang Seng added 18 points, or 0.1%, to close at 25,946 on Thursday, marking a fourth straight session of gains amid strength mainly from financials.
Sentiment was lifted by Beijing’s new plan to spur consumption, including rural consumer goods upgrades and support for sectors such as pets and toys. A modest rise in mainland stocks also aided risk appetite, amid optimism toward the domestic AI sector. On the data front, however, October figures showed China’s industrial profits dropped for the first time in three months, reflecting weak domestic demand and export challenges.
Trading was subdued with U.S. markets closed for the Thanksgiving holiday and set for a shortened Friday session. In corporate news, state-backed developer China Vanke sought to delay an onshore bond repayment for the first time, heightening property sector concerns. Notable movers included Pop Mart International (7.1%), Smoore Holdings (4.3%), Laopu Gold (4.1%), and Akeso Inc. (3.8%).
Source: Tradingeconomics.com