Asian Sentiment Improves, Hong Kong Follows Gains
Hong Kong stocks rallied on Tuesday morning, with the Hang Seng rising 305 points, or 1.3%, to 24,686, snapping a three-day downtrend. The gains were driven by bargain hunting after the index briefly hit a near eight-month low.
Sentiment improved following gains in Asian markets after US President Donald Trump postponed an attack on Iran's power grid, easing fears of a deeper energy shock. From China, support came from Premier Li's commitment to increasing imports of quality goods and promoting more balanced trade, while PBoC Governor Pan Gongsheng sought to allay concerns about China's trade surplus.
However, the market remained cautious ahead of the release of Hong Kong's February trade data after December turned into a deficit. The gains were led by financial and property stocks. Laopu Gold surged nearly 10% after its first-quarter performance beat expectations, while Zijin Gold Intl rose 2% on higher sales and prices. China Hongqiao rose 4.2% amid aluminum optimism, followed by China Resources Beer (5.2%), Pop Mart (4.3%), and SITC Intl (3.6%).
Source : Newsmaker.id
