05.03.202602:32:56UTC+00Hong Kong Market Bounces Back on Chinese Premier Remarks

Hong Kong stocks jumped 433 points, or 1.7%, to 25,679 in early Thursday trading, snapping a three-day losing streak as bargain hunters moved in after the market hit an 11-week low. Sentiment improved following Premier Li Qiang’s pledge to maintain economic momentum after China achieved its 2025 growth target, even as authorities set a slightly lower 2026 growth goal of 4.5%–5%.

Fiscal support also remained robust. Local governments were authorized to issue CNY 4.4 trillion in special-purpose bonds, while Beijing plans to sell CNY 1.3 trillion in ultralong treasuries, in line with last year’s quota.

Gains were tempered, however, by a sharp drop in U.S. futures, as investors weighed rising tensions in the Middle East and their potential impact on energy supply chains and inflation. On the local front, Hong Kong’s retail sales growth slowed to a five-month low of 3.4% in January, down from 5.1% previously.

Advances were broad-based, led by property, financial, and technology shares. Notable movers included AIA Group (up 4.4%), Minimax Group (4.0%), Innovent Biologics (3.9%), and XPeng (3.5%).