Hong Kong Stocks Rise, Technology Leads
The Hang Seng Index rose 107 points, or 0.4%, on Tuesday, reaching 25,909, posting its fifth consecutive session of gains. This rise was fueled by a recovery in the technology sector, fueled by optimism surrounding artificial intelligence (AI) stocks that fueled the rally on Wall Street. The Hong Kong stock market also benefited from hopes for further interest rate cuts by the Fed and expected additional stimulus from the Chinese government.
Several major stocks, such as CSPC Pharmaceutical Group (up 5.2%), Zhongsheng Group (3.0%), and Ping An Insurance (2.9%), also boosted the index. Although Hong Kong's annual inflation rate was recorded at 1.2% in November, remaining high for the past three months, the market remained optimistic. Furthermore, investors are also monitoring the meeting of the Standing Committee of China's National People's Congress, hoping for new policies that could support the economy and strengthen the market's future prospects. (asd)
Source: Newsmaker.id
