The Hang Seng Index advanced 0.6%, or 150 points, to 25,459 on Thursday, mirroring gains across other Asian markets as a pause in the global bond selloff eased worries about tighter monetary policy. The rebound was supported by weaker-than-expected US private-sector employment data and comments from New York Fed President John Williams, who indicated there was no immediate need for additional interest rate hikes.
Sentiment was further buoyed after President Donald Trump said that any renewed US military action against Iran would likely be short-lived, alleviating fears of a prolonged conflict in the Middle East. Softer oil prices also helped reduce inflation concerns and pressure from rising energy costs.
Technology and financial stocks posted gains, lending broader support to the market. By contrast, Shein remained under pressure, with its shares sliding more than 5% on Wednesday to HK$46 in their second day of trading in Hong Kong.
Among notable movers, Tencent rose 0.4%, Lenovo 1.1%, MiniMax 1.0%, Akeso 3.0%, and AIA 1.8%.
