The Hang Seng Index rose 249 points, or nearly 1%, to close at 26,657 on Friday, erasing a 1.4% loss from the previous session and finishing the week up 0.8% amid broad-based sector gains. Sentiment improved ahead of China’s National People’s Congress, which begins on March 5, as traders looked for fresh policy support for technology, innovation, and domestic consumption.
Market participants also largely shrugged off a steep decline in U.S. futures, instead turning their attention to China’s February PMI readings due next week. Property stocks led the advance, gaining 2.8% after Shanghai relaxed homebuying restrictions in an effort to bolster the real estate sector. Consumer names rose on the back of attractive valuations, while technology shares recovered part of their recent losses.
Among notable movers were Sun Hung Kai Properties (+6.6%), Pop Mart International (+2.8%), Muyuan Foods (+2.6%), and AIA Group (+2.3%). Despite Friday’s gains, the index still fell 2.8% in February, giving back much of January’s strong advance as uncertainty over potential U.S. tariffs, concerns about stretched global tech valuations, and renewed geopolitical tensions weighed on risk appetite.
