The Hang Seng rose 87 points or 0.4% to end at 19,664 on Tuesday, marking its second session of gains amid a positive sentiment from Wall Street Monday, where lower US Treasury yields bolstered the appeal of equities.
Hang Seng finishes 0.4% higher
Meanwhile, in an investment summit, Chinese VP He Lifeng highlighted the greater certainty in Hong Kong's economic growth as Beijing commits to boosting the city's competitiveness, notably in the financial industry, to lure more foreign investment. Gains were broad-based, led by tech and consumers. However, the rise was capped by caution ahead of the PBoC's monthly review of its key lending rates.
Eyes on PBoC's moves
While the central bank is projected to retain loan prime rates at record lows, some traders were uncertain whether the PBoC will further cut the RRR before year-end to aid the Chinese economy. Trip.Com surged 5.7% on a quarterly revenue beat. Robust wins were also seen for Smoore Hlds. (7.6%), BYD Electronic (6.7%), Sunny Optical Tech. (3.5%), and Semicon Manufacturing (3.0%).
