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Indonesia News Portal for Traders | Financial & Business Updates

24 February 2025 10:43  |

Hong Kong Stocks Extend Gains to Begin the Week

Hong Kong equities rose 76 points or 0.3% to 23,551 in early Monday trading, marking a second session of advance and reaching their highest level since early February 2022.

The property sector led the rise, up over 2.5%, as Chinese state-backed developers resumed purchasing land at high prices following the government's relaxation of home price restrictions to revitalize a sluggish market.

Notably, Sun Hung Kai Properties (4.3%), China Overseas Land (3.1%), and Henderson Land Dev. (2.4%) jumped after the report. Financials also moved higher after Beijing urged higher service spending across multiple industries. On the business front, Alibaba Group and Chinese state-owned funds expressed their interest in DeepSeek’s funding round for the first time.

However, further gains were capped by renewed US-China trade tensions after US President Trump reportedly instructed the Committee on Foreign Investment to curb Chinese investments in sectors like energy and other critical industries.

Source: Trading Economics

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