Hong Kong Stocks Rebound After Two-Day Losing Streak
The Hang Seng Index rose 1.0%, or 247 points, to 24,031 on Friday, snapping a two-session losing streak. Sentiment improved as US futures advanced and Asian shares recovered from earlier losses, while oil prices retreated after US President Trump said he would not attack Iran before the November midterm elections. The pullback in oil prices offered some relief after heightened inflation concerns, although elevated Treasury yields continued to weigh on the broader outlook. Tech, financial, and property shares led advances, offset by weakness in healthcare and technology services. Notable movers were AIA (2.5%), Tencent (1.4%), Sun Hai Kung Property (1.2%), PICC Property & Casualty Co. (1.4%), and Xiaomi (1.5%) while Wuxi Biologics and CSPC Pharmaceutical (-1.2%) declined. Investors also looked ahead to China's September inflation figures and trade data following the resumption of mainland markets after the Golden Week holiday.
0%, or 247 points, to 24,031 on Friday, snapping a two-session losing streak. Sentiment improved as US futures advanced and Asian shares recovered from earlier losses, while oil prices retreated after US President Trump said he would not attack Iran before the November midterm elections. The pullback in oil prices offered some relief after heightened inflation concerns, although elevated Treasury yields continued to weigh on the broader outlook. Tech, financial, and property shares led advances, offset by weakness in healthcare and technology services.
2%), PICC Property & Casualty Co. 2%) declined. Investors also looked ahead to China's September inflation figures and trade data following the resumption of mainland markets after the Golden Week holiday.