Hang Seng Attempts to Rebound
Hong Kong stocks edged higher in Wednesday morning trading. The index rose around 32 points, or 0.1%, to 26,518, attempting to break a downtrend that had lasted four consecutive sessions.
This small increase followed gains in US stock futures, although Wall Street just recorded its deepest daily decline since October 10. Global sentiment was again volatile after President Donald Trump revived tariff threats against Europe, sparking concerns about market volatility.
Hong Kong's gains were led by technology and consumer stocks, in line with mainland Chinese markets, which also tended to be more stable. The boost came after the People's Bank of China kept its benchmark lending rate unchanged for the eighth consecutive month, after Beijing confirmed its 5% growth target by 2025 was achievable.
On the corporate side, China Vanke attracted attention after its bondholders approved a one-year deferral of some yuan bond payments, according to a company disclosure document. This news provides a temporary respite for the property sector, which remains sensitive to liquidity issues.
However, room for upside remains limited as investors remain cautious ahead of the release of December inflation data and first-quarter business confidence readings. In the early session, several standout stocks, including Wuxi Biologics, SMIC, Zijin Mining, and China Hongqiao Group, rallied. (asd)
Source: Newsmaker.id
