Hang Seng Rises 0.8% at Finish
The Hang Seng climbed 162 points or 0.8% to close at 19,883 on Monday, halting a two-session decline with gains across all sectors. Investors increased their positions amid a jump in US futures, as mild US inflation in November reignited bets of a Fed rate cut next year.
At home, Hong Kong's annual inflation held steady at 1.4% for the second month, with the government anticipating manageable cost pressures in the near term. Meanwhile, mainland investors reportedly added their exposure to risk assets in the city via the stock connect.
Financials surged near 2%, tracking their mainland counterparts, as dividend plays gained favor amid falling bond yields. Gains were limited by holiday weekend caution ahead of the PBoC's upcoming decision on the one-year medium-term lending facility Tuesday after two months of keeping it unchanged at 2%. Notable big-cap gainers included Orient Overseas (6.2%), ENN Energy Holdings (2.8%), Semiconductor Manufacturing (2.8%), and Hang Seng Bank (2.5%).
Source : Trading Economic
