Hong Kong Stock Market

Hong Kong's equities soared 574 points, or 2.8%, to 21,211 in Thursday's morning session after plummeting in the prior two sessions, boosted by record-high closes on Wall Street's S&P 500 and Dow overnight, as investors downplayed escalating Middle East tensions and awaited key US inflation data.

 Optimism grew for fiscal support from China as Beijing scheduled a media briefing Saturday, where the finance minister is expected to discuss tax relief and increased public spending.

Morgan Stanley and HSBC forecast a CNY 2 trillion stimulus package, while Citigroup estimates it at CNY 3 trillion. Earlier in the week, China's economic planner announced the extension of ultra-long bond issuance to help regional growth.

Meanwhile, the PBoC today launched a swap program to support the Chinese stock market. Broad-based gains were observed, led by consumer, financial, and tech sectors.

Notable performers included Tencent Holdings (2.4%), Meituan (4.9%), Xiaomi Corp. (3.2%), and AIA Group (3.8%). (Cay)

Source : Trading economi