The Hang Seng Index surged 436 points, or 1.7%, to close at 25,77 on Friday, marking gains for the second straight session amid broad-based strength across sectors. Mainland market momentum lifted sentiment after China set its 2026 GDP growth target at 4.5%–5% during its annual parliamentary meeting, with most other goals broadly in line with expectations. Tech stocks led the rally, climbing above 3% as Beijing reaffirmed its tech-first policy stance. JD.com jumped 8.3% after reporting stronger-than-expected revenue and adjusted profit, while Trip.com (7.4%), Geely Auto (6.9%), Xiaomi Corp. (4.4%), and Meituan (3.8%) also advanced. Despite Friday’s strength, markets fell 3.3% for the week, reversing the prior period’s modest gain, as fears of escalating Middle East tensions raised concerns over higher oil prices, cost pressures, tighter liquidity, and recession risks. Traders now await key Chinese data next week, including February inflation and combined January–February trade figures.
