Hong Kong Shares Rise for 6th Session
The Hong Kong stock market rose 142 points or 0.7% to 20,067 on Tuesday morning, marking the sixth session of gains and holding at its highest in three weeks.
The bullish momentum came after Donald Trump did not target China in his inauguration speech on Monday, nor did he immediately impose previously threatened tariffs. Meanwhile, China's President Xi Jinping urged policymakers to implement more proactive macroeconomic policies this year to sustain growth momentum.
The property sector led the rises, with shares of embattled Country Garden surging nearly 20% upon resuming trade after a nine-month halt. The tech index was also notably higher after Xi Jinping reiterated the need for high-level technological self-reliance.
On the policy front, the PBoC retained its key lending rates at record lows for the third month amid renewed pressure on the yuan. Notable movers included Semicon Manufacturing (4.1%), WH Group Ltd. (3.7%), Sunny Optical Tech. (2.9%), and China Resources Land (2.6%).
Source : Trading Economics
