Hang Seng Rises 0.5% in Short Trading Day
Hong Kong's Hang Seng Index closed up 0.5% on Monday (February 16th), up 139 points, to 26,706, rebounding from two consecutive days of declines as all sectors traded in the green.
Market liquidity was thin ahead of the long Spring Festival holiday, but market participants remained willing to take new positions amid signs of easing Sino-US tensions. Sentiment improved after Washington postponed several key technology security measures ahead of the meeting between President Donald Trump and President Xi Jinping scheduled for April.
Domestically, stimulus expectations also strengthened: China's weak January CPI and deflationary pressures at the manufacturer level fueled speculation that Beijing would prepare a post-holiday support package.
The Hong Kong stock exchange will be closed on Tuesday and reopen on Friday, while mainland Chinese markets have already entered a week-long holiday. US markets are also closed today.
Leading the gainers were China Hongqiao Group (+3.9%), Techtronic Industries (+3.5%), AIA Group (+2.6%), Nongfu Spring (+1.9%), and Pop Mart International (+1.5%). (yds)
Source: Newsmaker.id