Business
Hong Kong Stocks Surge Amid Stimulus Hopes: Meituan and New World Development Lead the Uptick
Shares in Hong Kong rise due to expectations of stimulus; Meituan and New World Development spearhead the increase. Hong Kong shares bounce back from previous declines as poor data from China fuels anticipation for additional stimulus from Beijing. Hong Kong shares bounce back from previous declines as poor data from China fuels anticipation for additional stimulus from Beijing.
On Monday, the Hang Seng Index saw a rise of 0.3 per cent, reaching 17,422.12, despite a 1.1 per cent drop earlier in the trading day. Meanwhile, the Tech Index experienced a 0.5 per cent increase. It should be noted that the mainland markets will be shut until Tuesday due to a holiday.
"Barclays economists, including Jian Chang, expressed on Monday that the unsatisfactory data on activity, credit, and inflation may push the central bank to implement further monetary easing shortly,"
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