Nikkei 225 and Hang Seng Index on an Upward Trajectory Despite Economic Concerns
Hong Kong stocks advanced on Friday, boosted by tech names, coming close to reclaiming an October peak even as some investors awaited US jobs data for clues on interest-rate decisions and took profits.
The Hang Seng Index opened lower before rising 0.2 per cent to 20,942.55 at 9.56am local time. The Hang Seng Tech Index climbed 0.7 per cent. Both benchmarks are on track for their biggest week since October 4.
The CSI 300 Index and Shanghai Composite Index both gained 0.5 per cent.
- Lenovo jumped 6.3 per cent to HK$12.22
- Xiaomi rose 5.4 per cent to HK$42.70
- Geely Automobile climbed 5.1 per cent to HK$17.24
- Xinyi Solar Holdings rose 4.8 per cent to HK$3.49
- Electric vehicle makers Li Auto and BYD advanced 3.6 per cent to HK$99.35 and 3.1 per cent to HK$325.60, respectively.
Trimming gains, Sinopharm Group declined 2.2 per cent to HK$20.15, while Trip.com slipped 1.3 per cent to HK$535.50. Food delivery company Meituan dropped 1.1 per cent to HK$148.50, and Citic Securities dipped 1.3 per cent to HK$8.87.
Chinese tech stocks have reaped the AI theme stemming from the emergence of DeepSeek for a week. “China’s stock market has yet to reflect China’s improving innovation capability,” analysts at HSBC stated. “We believe this can change and as investors increasingly recognise this innovation, then the valuation gap between China and [emerging markets] can narrow, and foreign-fund inflows [will] pick up.”
The US will release a key jobs report on Friday, expected to guide the data-driven Federal Reserve’s interest-rate decisions. The Fed kept interest rates unchanged last month, confirming a slower-than-expected easing cycle.
Adding to complications, US-China trade tensions are now in a tit-for-tat mode, with limited retaliation from China in response to President Donald Trump’s tariffs on Chinese goods. Investors are looking for more policy measures from Beijing to prop up China’s property market and consumer demand ahead of key political meetings in March.
Elsewhere, Japan’s Nikkei 225 dropped 0.3 per cent, South Korea’s Kospi slipped 0.1 per cent, and Australia’s S&P/ASX 200 rose 0.1 per cent.
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.