Hang Seng rebounds 0.6% on rate-hike hopes and easing bond selloff
The Hang Seng Index rose 0.6% (150 points) to 25,459, helped by Asian gains and a pause in the global bond selloff. A weaker-than-expected US jobs report and John Williams’ comments supported rate-hike hopes.
The Hang Seng Index rose 0.6%, or 150 points, to 25,459 on Thursday, tracking gains across Asian markets as a pause in the global bond selloff eased concerns over tighter monetary policy.
The rebound followed a weaker-than-expected US private-sector jobs report and comments from New York Fed President John Williams that suggested there was no immediate need for further rate hikes.
Meanwhile, President Donald Trump said renewed US attacks on Iran would likely be short-lived, helping ease concerns over a prolonged Middle East conflict, while lower oil prices provided some relief over inflation and energy-cost pressures.
Technology and financial stocks also gained, supporting the broader market.
Shein also remained under pressure, with shares falling more than 5% on Wednesday to HK$46 on their second day of Hong Kong trading.
Notable gainers included Tencent (0.4%), Lenovo (1.1%), MiniMax (1.0%), Akeso (3.0%), AIA (1.8%).