06.03.202602:51:04UTC+00Hong Kong Stocks Rise, Weekly Loss Looms

Hong Kong equities rose 267 points, or 1%, to 25,589 in Friday morning trading, extending gains from the previous session. The advance came as U.S. stock futures edged higher, even after overnight weakness on Wall Street amid concerns that persistently high energy prices, driven by the ongoing Middle East conflict, could reignite inflation.

On the mainland, Chinese stocks also moved higher, supported by Beijing’s pivot toward economic rebalancing. Authorities are targeting growth of 4.5%–5% for 2026, a step down from the “around 5%” pace seen in recent years.

Most sectors in Hong Kong advanced, with technology and consumer shares leading the move. Pharmaceutical stocks outperformed in particular, including Innovennt Biologics (up 5.7%), Akeso (up 4.2%), and CSPC Pharma (up 3.5%).

Despite Friday’s rebound, the Hong Kong market remains on track for a sharp weekly decline of around 4%, giving back prior gains. Sentiment has been weighed down by official PMI data from China that highlighted softness in February’s manufacturing and services activity, partly attributed to the Spring Festival holiday. Investor caution has also increased ahead of next week’s releases of Chinese CPI and PPI figures, as well as the combined January–February trade data.