Hong Kong Stocks Trade Higher
Shares in Hong Kong rose 100 points or 0.5% to 19,260 in early trade on Wednesday following a muted session the day before, mainly supported by gains in property, tech, and consumers.
An upbeat session on Wall Street overnight uplifted sentiment, with the Fed's latest minutes being interpreted dovishly ahead of the October PCE index release.
Investors were also hopeful that the PBoC would further lower commercial banks' RRR in December to bolster economic recovery in China, following two reductions totaling 100bps in September and February.
Limiting the rise was fresh data showing a steeper drop in industrial profits during the first ten months of the year, dragged down by a slump in state-owned companies' profits.
In the meantime, US President-elect Donald Trump vowed to raise tariffs against China, imposing an additional 10% tariff on goods from the mainland and deepening trade tensions between the two nations.
Source: Trading Economics
