FX.co ★ Hong Kong Stocks Poised for Third Straight Weekly Gains

Hong Kong equities experienced an uptick of 68 points, or 0.3%, reaching 26,617 during the Friday morning session. This rise recovers from a 1.4% decline seen in the previous session, thanks in part to bargain hunters entering the market. The sentiment was further buoyed by record highs in the S&P 500 and Nasdaq overnight, following the Federal Reserve's rate cut—the first in nine months. Market participants are also keenly anticipating today's conversation between U.S. President Trump and China's Xi Jinping, following an agreement to transfer TikTok to U.S. ownership. Over the week, the Hang Seng Index is poised for a third consecutive gain, currently up approximately 0.8%, driven by enthusiasm about advancements in China's AI, semiconductor, and pharmaceutical sectors. However, gains are somewhat capped by a retreat in mainland stocks from their ten-year peaks, due to the People's Bank of China's indication of no rush to relax monetary policy. This has led to speculation that fresh stimulus measures might not be introduced until 2026. In terms of specific performers, Weimob surged 12% following a share issuance for technological upgrades, while SMIC increased 3.9%, Anta Sports rose 3.6%, Galaxy Entertainment advanced 3.2%, and Trip.com added 2.1%.