Hang Seng Reversing Early Losses, Ending Higher
The Hang Seng rose 41 points, or 0.2%, to close at 19,705 on Wednesday, reversing an early decline and ending in the green for a third day amid gains across most sectors, led by property and technology.
Sentiment improved after China’s central bank kept its main lending rate at a record low during its monthly setting, following rate cuts in October and July.
In addition, U.S. futures were significantly higher as traders anticipated Nvidia earnings, upcoming speeches by Fed officials and Donald Trump’s political appointments, particularly for Treasury Secretary.
Capping the gains was data from Bloomberg News that 35 Hong Kong-listed companies have reported quarterly results, with average earnings up 0.1% from a year earlier, compared with a 7.3% increase in the previous quarter.
Among the gainers were pharmaceutical stocks, including Innovent Biologics (7.7%), Sino Biopharmaceutical (4.3%), and Hansoh Pharmaceutical (4.2%). Other companies that also recorded significant increases were Akeso Inc. (7.9%) and Smoore Holdings (6.4%).
Source: Trading Economics
