Hang Seng Rebounds, Wall Street Sentiment Lifts Hong Kong Stock Exchange
Hong Kong stocks opened higher on Wednesday, with the index rising around 0.4% to 26,690, reversing the previous session's sharp decline. Sentiment improved after Wall Street closed higher ahead of President Donald Trump's State of the Union address, while continued gains in mainland Chinese stocks also supported risk appetite in the region. The market also weighed in on the People's Bank of China's decision to maintain the loan prime rate at its lowest level for the ninth consecutive month as part of its efforts to support the economy.
Despite the positive movement, gains remained limited as investors awaited several key data releases in Hong Kong, including final fourth-quarter GDP figures and January inflation figures due today, as well as trade data on Friday. On the geopolitical front, the market remained cautious following renewed tensions between Beijing and Tokyo after China restricted sales of dual-use goods to several Japanese companies. Sectorally, gains were led by property, consumer, and technology stocks, with several issuers such as Anta Sports, China Resources Land, China Overseas Land, and Zijin Gold International recording initial gains. (asd)
Source: Newsmaker.id
