Hang Seng Jumps 5.6% This Week
The Hang Seng slipped 138 points or 0.6% to close at 24,231 on Friday, snapping a three-day gain. The decline followed trade data from China showing an unexpected tumble in imports over the January-February period, while exports lost momentum amid escalating US tariff pressures.
The index backed off from a three-year top as investors turned cautious ahead of China’s February CPI and PPI data, set for release over the weekend. Losses were broad-based, with property, financial, and tech stocks leading the decline.
JD Logistics plunged 14.0% after reporting slower growth in Q4 net profit, while Semicon Manufacturing (-5.3%), UBTech Robotics (-4.8%), and Techtronic Inds. (-2.7%) also fell sharply.
Despite Friday’s drop, the Hang Seng gained 5.6% for the week, rebounding from a loss in the prior period. This was driven by optimism surrounding the AI sector and signals that China is preparing to expand fiscal stimulus this year and maintain monetary easing to support economic recovery.
Source : Trading Economics