Hong Kong stocks rose 82 points, or 0.3%, to 26,012 in early deals on Thursday, increasing for a fourth session after Wall Street overnight logged its fourth straight advance on growing expectations of a Fed rate cut in December. All sectors in the Hang Seng index traded higher, with tech and property shares leading the move, while sentiment was also supported by a rebound in mainland markets after a brief pullback. However, upside momentum was tempered by fresh data showing China’s industrial profits fell 5.5% yoy in October, marking the first decline in three months amid weak demand and ongoing price pressures. Investors also monitored reports that state-backed developer China Vanke is seeking to delay for the first time an onshore bond repayment due December 15, raising renewed concerns over policy support for the troubled property sector. Notable gainers included Pop Mart Intl. (7.1%), SMIC (3.3%), China Hongqiao Group (2.8%), and Xiaomi Corp. (2.3%).
