Hang Seng Trims Gains at Close
The Hang Seng rose 65 points or 0.3% to finish at 23,006 on Monday, snapping a two-day losing streak as traders keenly awaited the start of China’s National People’s Congress on Tuesday. Analysts expect officials to set a growth target of around 5% and a budget deficit of 4% of GDP for this year during the annual key gathering.
Investors were also hopeful that US tariffs on China might be postponed or mitigated after President Trump announced plans to impose an additional 10% tariff on all Chinese imports starting March 4, after the 10% levies implemented on February 4. Meanwhile, China’s state-backed Global Times said Beijing was preparing countermeasures, potentially targeting US agricultural exports. Property and financials mainly led the gains.
However, the benchmark index trimmed early gains as tech and consumer stocks reversed into losses. Among major movers, Pop Mart Intl. surged (5.3%), alongside Horizon Robotics. (5.1%), JD Health Intl. (4.4%), and Prada Spa (3.0%).
Sumber : Trading Economics
