Hang Seng Jumps Over 3% at Finish
The Hang Seng surged 776 points or 3.3% to close at 24,370, marking its third straight gain and the highest in over three years, with all sectors rallying. Investors viewed policy signals from China's annual parliamentary meeting positively, prompting increased buying.
The tech sector jumped 5.4%, led by an 8.5% surge in Alibaba Group, which has soared 46% since hitting a 2025 low on January 13, driven by optimism over its AI development efforts. Consumer, property, and financial stocks also posted solid gains, as traders bet that the latest U.S. tariff hike under President Trump would not derail market sentiment, especially amid Beijing’s2025 fiscal stimulus.
However, caution lingered ahead of key Chinese data, including trade figures for January-February on Friday, and CPI and PPI data on Saturday. Greentown China rose 7.7% on strong February sales, while Kuaishou Tech (15.8%), KE Holdings (10.4%), Kingsoft Corp. (10.9%), Tencent (6.7%), and Meituan (5.1%) also posted solid gains.
Source : Trading Economics