The Hang Seng rose 34 points, or 0.1%, to close at 25,868 on Tuesday, extending gains into a second consecutive session on the back of strength in property and financial stocks. Investors trimmed positions in energy-related names, shifting their attention toward underlying fundamentals.
Robust Chinese activity data continued to underpin sentiment, with industrial production and retail sales both beating expectations and fixed-asset investment also increasing. However, early gains were curtailed by a steep decline in U.S. stock futures after President Trump said Monday he would postpone his planned trip to China by about a month due to the conflict in the Middle East.
Caution also prevailed ahead of China’s monthly loan prime rate decision later this week, after benchmark lending rates were kept unchanged at record lows for the ninth consecutive month in February.
Automakers led the advance, with Chery Auto up 5.5%, Geely Auto gaining 4.5%, and Li Auto rising 2.0%. Other notable gainers included Pop Mart International (up 3.2%), Meituan (2.2%), and J&T Global Express (1.9%).
