Hang Seng Rallies on Friday, But February Remains in the Red
The Hang Seng Index strengthened at the close of trading on Friday (February 27th), rising around 249 points, or nearly 1%, to 26,657, reversing a 1.4% decline in the previous session. This gain also saw the Hang Seng close the week up around 0.8%, as the rally occurred across most sectors.
Sentiment improved ahead of China's National People's Congress (NPC) on March 5th, with the market hoping for policies that further support technology, innovation, and domestic consumption. Investors also tended to ignore the sharp decline in US futures and shift their focus to China's February PMI release scheduled for next week.
The property sector was the main driver of the rally, surging around 2.8% after Shanghai relaxed home-buying rules to encourage the sector's recovery. Consumer stocks also strengthened amid perceived low valuations, while technology stocks rebounded from the pressure of previous sessions. Among the stocks that stood out were Sun Hung Kai Properties (+6.6%), Pop Mart (+2.8%), Muyuan Foods (+2.6%), and AIA Group (+2.3%).
Although Friday's rally provided a breath of relief, the Hang Seng still recorded a decline of around 2.8% throughout February, reversing from January's solid performance. Uncertainty over US tariffs, concerns about the valuation of the global technology sector, and rising geopolitical risks continue to weigh on investor risk appetite.
Source: Newsmaker.id
