Hang Seng Closes 0.7% Higher
The Hang Seng rose 174 points or 0.7% to end at 26,033 on Monday, swinging from a drop in the prior session. The upturn was supported by steady optimism over U.S. rate cuts, while sentiment also improved as soft November PMI readings in China revived hopes of fresh support measures.
Official data showed manufacturing fell for the eighth straight month in November, and a private survey signaled a mild pullback. In China, stocks rose for a third session, driven by AI-related optimism. However, market momentum in Hong Kong was capped by a sharp drop in U.S. futures ahead of key data this week and next week’s Fed meeting.
The property sector led the gains, up around 1%, with Sun Hung Kai Properties rising 1.9%, followed by China Resources Land (0.9%), and Henderson Land (0.8%). ZTE surged 10% after securing 5G contracts in Vietnam, signaling closer Beijing–Hanoi ties. In contrast, Meituan slid around 3% after posting its first quarterly loss since late 2022 amid intense price competition.
Source : Tradingeconomics.com
