The Hang Seng jumped 215 points, or 1.1%, to close at 20,098 on Tuesday, rising for a second session and hitting its highest in more than a week amid solid gains across sectors.
Investors flocked to riskier assets after China reportedly planned to sell a record CNY3 trillion worth of special government bonds in 2025 to boost its economy.
The funds raised from the bonds will be used for consumption subsidies, upgrading business equipment and investing in key technologies and advanced manufacturing.
Positive reports from Wall Street on Monday also boosted sentiment, along with reports that U.S. President-elect Trump opposed TikTok's departure from the U.S. Meanwhile, Chinese state media outlets said that foreign institutions have a positive outlook for Chinese stocks in 2025, anticipating a gradual stabilization of the economy.
Notable market players included Orient Overseas (7.3%), BYD Electronic Intl. (5.7%), SITC Intl. (5.0%), and Miniso Group (4.7%). Markets will resume trading on Friday after a two-day Christmas break.
Source: Trading Economics
