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24.11.202508:28:10UTC+00Hang Seng Rallies at Finish

On Monday, the Hang Seng Index surged by 496 points, or nearly 2%, closing at 25,716. This uptick ended a six-day decline, driven by a rise in U.S. futures fueled by increasing anticipation of a possible Federal Reserve rate cut in December. This anticipation followed dovish comments from a senior Fed official. The market rebounded from its five-week low with broad-based gains across various sectors. Notably, the technology index advanced by 2.7%, even amid reports that the Trump administration might permit Nvidia to export H200 chips to China. Investor sentiment was buoyed as they looked forward to potential policy directions to be discussed at the upcoming Central Economic Work Conference in Beijing. Nevertheless, some caution remained ahead of the release of China's industrial profits data and Hong Kong's October trade figures, limiting further gains. Alibaba leaped by 5.3% after its Qwen chatbot downloads exceeded 10 million. Leapmotor rose by 6.0% and Innovent Biologics by 5.0%, both set to be included in the Hang Seng indexes as of December 8. JD.com saw an increase of nearly 2% as its supply-chain technology division geared up to gauge investor interest for a planned IPO in Hong Kong.

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