Hang Seng Rises 2.7% This Week
The Hang Seng rose 71 points or 0.3% to close at 21,981 on Friday, recovering from the previous session’s declines following a strong rally on Wall Street Thursday. Sentiment also improved after PBoC Governor Pan Gongsheng reaffirmed the central bank’s commitment to an “appropriately loose” monetary policy to support China's economy.
Reports that Beijing may exempt some U.S. goods from its 125% tariffs also lifted the mood, as China weighs the economic toll of the trade war. For the week, the index added 2.7%, its second straight weekly gain, fueled by optimism over Beijing’s move to reduce the negative list for foreign investment from 117 to 106 sectors.
Gains were broad-based, with tech, consumer, and property stocks leading the rises on hopes for more stimulus ahead of the Politburo meeting. Baidu surged 2.3% after launching its Ernie 4.5 Turbo AI model. Other standout performers included Smoore Intl. (5.8%), Lenovo Group (3.4%), J&T Global Express (3.5%), and Swire Pacific (2.3%).
Source : Trading Economics
