Hong Kong Stocks Rise as Ping An Earnings Ignite Confidence in Market Outlook
Hong Kong Stocks Surge After Strong Earnings
Hong Kong stocks advanced as Ping An Insurance Group’s quarterly results fueled optimism about the corporate earnings outlook. The Hang Seng Index rose 0.3% to 20,530.25 as of 9.57am local time. The Hang Seng Tech Index gained 0.9%.
Mainland Chinese Markets Also Rise
Mainland China’s benchmarks traded higher, with the CSI 300 Index climbing 0.4%, and the Shanghai Composite Index adding 0.2%. Ping An Insurance added 0.4% to HK$49.30 after reporting a 36% profit increase for the first nine months due to investment gains.
- China Life Insurance gained 1.1% to HK$16.66.
- Geely Automobile climbed 7.4% to HK$13.66.
- Li Auto also surged 7.4% to HK$103.
Global Context and Outlook
UBS Group raised China’s growth forecast for 2025 to 4.5% from 4%, citing better-than-expected third-quarter economic expansion and supportive monetary, fiscal, and property measures from Beijing. Other major Asian markets faced challenges due to rising US treasury yields, with Japan’s Nikkei 225 sliding 1.3%, South Korea’s Kospi retreating 1.1%, and Australia’s S&P/ASX 200 losing 1.4%.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.