The Hang Seng Index added 82 points, or 0.3%, to close at 27,266 on Wednesday, extending its winning streak to a third session on broad-based sector gains. Risk appetite remained supported after China’s central bank reaffirmed its commitment to boosting domestic demand. At the same time, official data showed a further slowdown in mainland consumer inflation in January and continued producer-price deflation, reinforcing expectations of additional policy support.
However, the market surrendered part of its early advance as persistent concerns over industrial overcapacity and subdued consumer spending weighed on sentiment and growth expectations. Trading activity also moderated ahead of the Spring Festival holiday, which begins on February 15.
On the corporate front, Hesai Group climbed 6.4%, and SenseTime gained 2.9% after both were added to the MSCI China Index. WuXi Biologics rose 3.6% to its highest level since October on the back of robust earnings, while Minth Group reached a five-year high following news of a joint venture in Canada. In contrast, SMIC slipped 2.7% after its CEO cautioned that the semiconductor industry is “a bit panicked” about an AI-driven shortage of memory chips.
