Hang Seng Reverses Early Losses to Close at Multi-Year High
The Hang Seng rose 136 points or 0.5% to finish at 25,130 on Monday, reversing early weakness and ending higher for the third session, led by property and consumer stocks. The index hit its highest since November 2021 after China announced the start of construction on a $170 billion hydropower dam in Tibet, boosting confidence in infrastructure-related sectors.
Property stocks climbed 1.3% on the news, while consumer shares advanced modestly amid signs of easing Sino-U.S. trade tensions, Beijing’s push to attract long-term capital into equities, and fresh measures to support key industries like machinery, autos, and electrical equipment.
Meantime, U.S. futures edged higher ahead of major tech earnings this week. CK Hutchison jumped 2.5% to a 4-1/2-month top, as China COSCO Shipping reportedly eyes joining a global consortium acquiring Li Ka-shing’s overseas ports.
Other notable gainers included Sinotruk Ltd. (8.0%), China Hongqiao (3.7%), SMIC (2.8%), and Techtronic Inds. (2.6%).
Source : Trading Economics