Hang Seng Climbs 1% at Finish
The Hang Seng jumped 252 points, or 1%, to close at 26,158 on Monday, reversing losses from the prior three sessions amid broad sector gains.
Sentiment was boosted by the U.S.-China trade truce, which included U.S. tariff reductions and a pause in Beijing’s new export curbs on rare earth minerals and magnets. The U.S. is also expected to suspend port fees for a year on China-linked vessels starting next week. Local data supported the rally, with Hong Kong’s economy growing 3.8% yoy in Q3, the fastest since late 2023, while retail sales rose 4.8% in September, the highest in nearly two years. Gains were tempered by private survey data showing China’s factory activity growth eased from a six-month high in October following the Golden Week holiday.
Financials jumped around 2%, led by AIA Group (5.3%), Industrial and Commercial Bank of China (2.5%), and Bank of China Hong Kong (1%). Property rose 1.4%, with strength from Sun Hung Kai Properties (2.1%) and CK Asset Holdings (1.9%).
Source : Trading Economics
