Hong Kong equities climbed 93 points, or 0.4%, to 26,477 in Friday morning trade, rebounding from a sharp decline in the previous session and pointing to a modest gain for the week. Broad-based bargain hunting lifted all sectors. The city’s strong IPO pipeline also remained intact, with four new offerings launched today seeking to raise up to HKD 4.9 billion, according to exchange filings.
Property stocks led the advance following reports of further easing in Shanghai’s home purchase restrictions for non-residents. Consumer and financial shares also firmed, supported by resilient mainland spending over the Lunar New Year holiday. Notable movers included Sun Hung Kai Properties (up 5.4%), CK Asset Holdings (up 3.4%), and China Hongqiao Group (up 3.0%).
Despite the day’s gains, the market remains on track for a monthly loss of about 3%, as investors stay cautious ahead of China’s February PMI data. Additional headwinds include uncertainty over potential U.S. tariffs, elevated global technology valuations, and persistent geopolitical risks, all of which are contributing to a restrained market tone.
