FX.co ★ Hang Seng Ends Muted After China Pledges Support Without New Stimulus

The Hang Seng Index closed nearly unchanged at approximately 21,981 on Monday. This comes as investors considered pivotal insights from a press briefing in China that followed the Politburo's recent meeting. Chinese officials assured of their intent to support exporters and workers affected by tariffs imposed by the U.S., alongside preparing contingency strategies for the broader economy. The trading day, characterized by modest declines during earlier sessions, saw gains in the financial and technology sectors balancing out the losses in real estate and consumer industries. Beijing’s decision not to introduce new stimulus measures suggested that further interventions would be made as necessary, depending on evolving circumstances. Concurrently, U.S. futures dipped slightly after Treasury Secretary Bessent did not confirm President Trump's assertion regarding ongoing tariff negotiations with China. Additionally, Beijing has allowed some exemptions on previously imposed 125% counter-tariffs on U.S. imports. Among the significant market movers, Akeso Inc. declined 11.8% and BYD Electronic fell 8.6%, while Pop Mart International surged by 12.1%, China State Construction rose by 6.0%, and SITC International climbed 4.0%.