Hong Kong stocks rose on Wednesday, halting the benchmark’s longest stretch of declines since January 2024, as growing expectations of a Federal Reserve interest rate cut this month helped offset concerns over renewed tensions between China and the US.
The Hang Seng Index gained 1.8 per cent to 25,910.60 at the close, rebounding from a nearly 7 per cent drop over the past seven trading sessions. The Hang Seng Tech Index rallied 2.6 per cent.
On the mainland, the CSI 300 Index advanced 1.4 per cent and the Shanghai Composite Index added 1.7 per cent.
Retailer Chow Tai Fook Jewellery Group jumped 5 per cent to HK$15.34 and gold producer Zijin Mining Group surged 4.7 per cent to HK$33.50 after gold extended its record-breaking run. Pop Mart International gained 3.8 per cent to HK$273. Alibaba Group Holding rallied 3.9 per cent to HK$161.60 and Tencent Holdings added 1 per cent to HK$627. HSBC Holdings gained 1.6 per cent to HK$103.50.
