Hang Seng jumps 2% on strong Chinese exports and stimulus hopes

The Hang Seng surged 415 points, or 2.0%, closing at 20,953 on Thursday, rebounding from the previous session's losses, driven by gains across multiple sectors.

Hang Seng jumps 2% on strong Chinese exports and stimulus hopes

Market sentiment improved following Chinese data showing a 12.7% year-on-year increase in October exports, the most substantial growth over two years. Investors also anticipated potential stimulus measures as China's legislative session wraps up on Friday, which could help mitigate trade challenges under a second Trump presidency. Additionally, Bloomberg reported that Chinese regulators have directed banks to reduce deposit rates paid to other financial institutions to free up funds for economic support. Meanwhile, the US Federal Reserve is expected to implement a 25bps rate cut later today, following a 50bps reduction in September.

Hang Seng gains capped by caution; Galaxy Entertainment and Haidilao shine

However, caution limited gains ahead of China's CPI and PPI data due over the weekend. Notable performers included Galaxy Entertainment, up 5.0% on substantial Q3 revenue, along with Haidilao International (9.8%), Longford Group (8.8%), Meituan (5.5%), and Semiconductor Manufacturing (4.8%).