Hang Seng Strengthens, But Risk of Weekly Loss Grows
Hong Kong stocks rallied in Friday morning trading, with the main index rising around 267 points, or 1%, to 25,589. This gain extended the previous session's gains, as Wall Street futures moved higher, even though global markets remained clouded by concerns about rising inflation if energy prices remain high amid the Middle East conflict.
In the region, Chinese stocks also continued to rally after Beijing signaled a shift toward economic rebalancing, with a 2026 growth target of 4.5%–5%, slightly below the "around 5%" pace of recent years. In Hong Kong, gains were led by the technology and consumer discretionary sectors, while pharmaceutical/biotech stocks stood out, with gains in several large issuers.
Despite today's gains, the Hong Kong market is still headed for a weekly decline of around 4%, pressured by weak official Chinese PMI data for February—impacted by a lull in activity during the Spring Festival holiday. Investors are also likely to be cautious ahead of the release of key Chinese data next week, including the CPI and PPI, as well as the combined January-February trade data, which will determine further sentiment for regional assets. (asd)
Source: Newsmaker.id
