Hong Kong Shares Rebound But Face Weekly Decline
The stock market in Hong Kong climbed 214 points or 1.0% to 20,700 in early trade on Friday following a slump in the prior session, supported by broad-based gains in all sectors.
Globally, Wall Street closed mostly in the green Thursday amid a further drop in US Treasury yields, as most traders reassessed bets on US rate cuts and risks from the upcoming presidential election. On the policy front, the PBoC today retained a one-year medium-term lending facility at 2% after delivering a record reduction of 30bps in September.
Sands China surged 4.8%, alongside Geely Auto (4.2%), Li Auto (3.5%), Xiaomi Corp. (3.2%), and Semicon Manufacturing (2.6%). However, the Hang Seng is on track to log the third straight weekly losses, down around 0.5% so far, burdened by persistent worries that China’s recent stimulus package may not be enough to boost an economic turnaround. In addition, a senior official of the IMF said Chinese fiscal measures fall short of what’s needed to curb deflation risks.(Cay)
Source : Trading economi
