Hong Kong stocks rebounded on Thursday as investors awaited signals on additional policy support from Beijing as the end of the 90-day tariff ceasefire with the US neared and after China’s deflation deepened.
The Hang Seng Index rose 0.6 per cent to 24,028.37 at the close and the Hang Seng Tech Index dropped 0.3 per cent. On the mainland, the CSI 300 Index and the Shanghai Composite Index both climbed 0.5 per cent.
Sunny Optical Technology advanced 6.1 per cent to HK$75.45 and BYD Electronic climbed 5.6 per cent to HK$33.95. Ping An Insurance rose 4.3 per cent to HK$51.65 and China Overseas Land and Development gained 4.6 per cent to HK$13.98. On the downside, JD.com slipped 1.4 per cent to HK$123.60 on concerns about increasing competition in the e-commerce industry. NetEase lost 1.5 per cent to HK$202.80.
Investors were looking ahead to a Politburo meeting later this month for clues on how top leaders might reverse a deflationary…
