FX.co ★ Hong Kong Equities Push Higher

Hong Kong stocks experienced an increase of 179 points, equating to a 0.7% rise, reaching 26,218 during Tuesday's morning session. This uptick continued the positive momentum from the previous day, supported by overall sector strength. Market sentiment further improved due to expectations that recent weak PMI figures in China might encourage Beijing to implement new economic support measures. Investors were also optimistic about recent data showing Hong Kong's retail sales achieved their highest growth since late 2023, with October marking the fourth straight month of increase, bolstered by consistent tourist arrivals. Nevertheless, the gains were tempered by a decline in mainland shares following a three-day rally. In corporate news, the struggling developer China Vanke is seeking a one-year extension for bondholder repayments due to increasing liquidity pressures and a decrease in state assistance. Notable early market leaders included Kuaishou, which grew by 2.6%, Citic Ltd. by 2.4%, Xiaomi Corp. by 1.8%, and AIA Group by 1.4%.