Hong Kong Stocks Rise as China Growth Prospects Brighten

Hong Kong Stocks Edge Higher

Hong Kong stocks edged higher, trimming a weekly decline, as a rebound in property sales in China spurred optimism about the growth outlook.

Market Movements

The Hang Seng Index rose 0.8 per cent to 20,657.87 as of 10.15am local time, paring the weekly loss to 0.5 per cent. The Hang Seng Tech Index gained 1.3 per cent.

• The CSI 300 Index climbed 0.5 per cent.
• The Shanghai Composite Index added 0.4 per cent.

Key Stock Performances

• Xinyi Solar jumped 11 per cent to HK$4.
• Xinyi Glass surged 4.1 per cent to HK$8.71.
• Li Auto gained 3.6 per cent to HK$109.60.
• Li Ning rose 3 per cent to HK$19.90.

Residential Sales Surge

Residential presales for 30 key cities in China rose by 22 per cent from the previous week, according to financial data provider Wind. First-tier cities led the increase across the country, with sales rising 27 per cent last week.

Investment Insights by UBS Group

UBS Group raised its forecast for China’s growth in 2025 to 4.5 per cent from 4 per cent, citing better-than-expected third-quarter growth and the government's stimulus package.

Asian Market Overview

Other major Asian markets were mixed. Japan’s Nikkei 225 slipped 0.9 per cent, while South Korea’s Kospi rose 0.2 per cent and Australia’s S&P/ASX 200 added 0.3 per cent.