Hong Kong shares climbed 365 points, or 1.4%, to 26,192 in Tuesday morning trade, extending the previous session’s rally and reaching a two-week high. Sentiment improved on the back of Wall Street’s overnight rebound and a pullback in oil prices, with Brent crude slipping below USD 100 per barrel. In China, equities inched higher after recent weakness, supported by solid January–February activity data, as industrial output, retail sales, and fixed-asset investment all posted gains.
All major sectors in Hong Kong advanced, led by technology and property stocks, though upside was capped by caution ahead of China’s monthly loan prime rate decision later this week. In February, the PBoC left its loan prime rates unchanged at record lows for the ninth consecutive month.
Geopolitical risks also loomed in the background, with the Iran conflict casting a shadow over prospects for the upcoming Trump–Xi Jinping summit later this month, as Washington seeks Beijing’s support in efforts to reopen the Strait of Hormuz. Notable early gainers included Pop Mart Intl. (up 4.8%), Zijin Mining Group (4.6%), Meituan (4.2%), Xiaomi Corp. (3.8%), and Laopu Gold (3.3%).
