Hong Kong stocks rose slightly as investors weighed the prospect of more stimulus measures from Beijing that are seen as necessary to prolong the world-beating rally over the past two months.
The Hang Seng Index climbed 0.1 per cent to 20,498.95 at the close, after falling as much as 0.5 per cent. EV maker Li Auto gained after Citigroup cited strong industry sales data, while Ping An Insurance Group slipped after its quarterly results missed analysts’ estimates. The Hang Seng Tech Index gained 0.7 per cent.
Mainland China’s benchmarks also traded higher. The CSI 300 Index advanced 0.6 per cent and the Shanghai Composite Index added 0.5 per cent.
Investors are waiting for Beijing to roll out fiscal stimulus measures to complement monetary easing that has already been implemented in the form of rate cuts and new funding tools for buying stocks. The focus will be on the National People’s Congress (NPC), whose standing committee is…
