Shares in Hong Kong climbed 272 points, or 1.1%, to 25,806 in early Friday trade after a slight pullback in the prior session, lifted by broad sector gains. Sentiment improved after President Xi Jinping said at the Central Economic Work Conference that 2025 is “a truly extraordinary year” and major targets will be met. Policymakers also pledged more proactive and better-coordinated macro policies to spur domestic demand, with fiscal policy staying proactive and monetary policy remaining moderately loose. A record close on the S&P 500 overnight added support after the Fed’s third straight rate cut and hopes that the bull market could extend into 2026. Notable movers included Shenzhou Intl. (2.4%), Sands China (2.3%), Chow Tai Fook (1.7%), and China Hongqiao (1.3%). Still, Hong Kong markets are on track to end the week about 1.0% lower amid concerns the Fed may deliver only one cut next year, while analysts expect major support for the property sector in China may only come in H2 2026.
