Hang Seng Rises, Property and Financials Lift Index
The Hang Seng Index rose 34 points, or 0.1%, to close at 25,868 on Tuesday (March 17), extending gains from the previous session. The gains were supported by property and financial stocks, as market participants reduced exposure to energy-related stocks and reconsidered fundamental factors.
Support also came from solid Chinese activity data, with industrial production and retail sales beating expectations, while fixed asset investment also increased. However, room for upside was limited after US stock futures fell sharply following US President Donald Trump's statement on Monday that he would postpone a planned visit to China for about a month due to the Middle East conflict.
Caution also prevailed ahead of China's monthly benchmark lending rate decision later this week, after the rate was held at a record low for nine consecutive months in February. Among individual stocks, the automotive sector led the gains, led by Chery Auto (+5.5%), Geely Auto (+4.5%), and Li Auto (+2.0%), while Pop Mart (+3.2%), Meituan (+2.2%), and J&T Global Express (+1.9%) also gained.
Source: Newsmaker.id