Hong Kong equities climbed 309 points, or 1.2%, to 26,245 in early Thursday trading, rebounding from a muted close in the prior session amid broad-based sector gains. Sentiment improved after Wall Street bounced back overnight, as upbeat U.S. private payrolls data helped ease concerns over stretched AI valuations. Mainland shares also rose further after Premier Li Qiang said China’s economy is projected to top CNY 170 trillion within five years. Meanwhile, Beijing confirmed that China will suspend retaliatory tariffs on U.S. imports following last week’s meeting of their two leaders, including lifting duties on farm goods excluding soybeans. Upside momentum was limited ahead of key data releases in China, including October trade and CPI/PPI figures. Cathay Pacific Airways jumped 3.5% after announcing plans to repurchase 643.1 million shares held by Qatar Airways. Other notable gainers included Zijin Mining (6.4%), China Hongqiao Group (5.4%), Sinotruk Hong Kong (4.8%), and SMIC (2.5%).
