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Indonesia News Portal for Traders | Financial & Business Updates

7 November 2024 15:33  |

Hang Seng Jumps 2.0% at Finish

The Hang Seng soared 415 points or 2.0% to end at 20,953 on Thursday following a slump in the prior session, boosted by gains across sectors. Sentiment was upbeat after Chinese data showed a 12.7% yoy jump in Oct. exports, the strongest rise in over two years. Investors also looked forward to potential stimulus as China's legislative session concludes Friday, which might offset some trade headwinds under the second Trump presidency.

Meanwhile, Bloomberg News said Chinese regulators have instructed lenders to lower the rates they pay on deposits from other financial institutions, aiming to free up funds to support the economy. Elsewhere, the US Fed is expected to cut interest rates by 25bps later today after a 50bps cut in Sept. However, gains were capped by caution ahead of China’s CPI and PPI data, due over the weekend. Galaxy Ent. surged 5.0% on strong Q3 revenue. Other strong wins included Haidilao Intl. (9.8%), Longfor Group (8.8%), Meituan (5.5%), and Semicon Manufacturing (4.8%).

Source: Trading Economics

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