On Tuesday morning, Hong Kong's stock market saw a rise of 366 points, or 1.4%, pushing the index to 26,233. This momentum builds on the substantial gains from the previous session, bringing the market close to its highest point in nearly a month. The positive sentiment was largely driven by a rally on Wall Street overnight, following comments from a senior White House official suggesting that a resolution to the U.S. government shutdown might be reached by the end of the week. Additionally, President Trump expressed optimism regarding the prospect of securing a "fair trade deal" with China’s President Xi Jinping.
Adding to the market dynamics, speculation increased that Beijing could introduce further economic stimulus, as China's GDP growth for the third quarter slowed to 4.8%, marking the slowest pace in a year. This comes as senior policymakers convene to discuss the forthcoming 5-Year Plan before the December Politburo meeting. However, gains were tempered by local data revealing a rise in Hong Kong's unemployment rate to 3.9% in the July–September period, up from 3.7%, driven by increasing joblessness in sectors such as social work and construction. Among the top performers were Zijin Mining, advancing by 2.8%, Lenovo up 2.2%, SMIC rising by 1.8%, and KE Holdings adding 1.6%. Zhejiang Leapmotor also increased by 1.6%, buoyed by insider share acquisitions.
