FX.co ★ Hong Kong Stocks Rise for 4th Session

Hong Kong's stock market saw a robust increase of 205 points, or 0.9%, reaching 24,385 in early Wednesday trading. This marks a fourth consecutive session of gains, maintaining its highest point in two weeks. This positive movement mirrored an overnight surge on Wall Street, steered by hopes that the U.S.-facilitated truce between Israel and Iran will remain intact. Investors were also encouraged by Federal Reserve Chair Jerome Powell’s comments, emphasizing the central bank's dedication to curbing inflation, hinting at stable interest rates until the ramifications of tariffs are thoroughly assessed. Furthermore, sentiment was bolstered by a third successive day of growth in the mainland markets, with the Shanghai Composite climbing to a three-month peak, following China's announcement of new measures to enhance financial support aimed at boosting domestic consumption. The rally in Hong Kong was widespread, with significant contributions from the property, technology, and consumer sectors. Notable performers included JD Logistics increasing by 8.5%, Zhejiang Sanhua Intelligent rising by 4.4%, SMIC gaining 3.7%, and Pop Mart Intl. advancing by 1.7%.