Hang Seng Rises 0.4%, China Optimism Eases Geopolitical Pressure
The Hang Seng Index rose 0.4% to close at 24,952 on Friday (March 27), outperforming most Asian markets after signs of improvement in the Chinese economy helped buoy sentiment. The gains came despite regional markets still being overshadowed by Wall Street's weakness and concerns about a prolonged Middle East conflict, which has pushed oil prices higher and raised global borrowing costs.
Investors remained cautious due to uncertainty surrounding the US-Iran developments, but stronger Chinese industrial profit growth data bolstered confidence in a recovery in earnings. Expectations of further policy support—including the possibility of interest rate cuts and a reduction in the reserve requirement ratio—added to the positive tone.
In stocks, Xiaomi rose 2.0%, Kuaishou strengthened 1.4%, Shenzhen Xunce Technology surged 24.1%, Innovent Biologics rose 7.6%, and Akeso added 1.9%.
Source: Newsmaker.id