Market Updates
China and Hong Kong Indexes Extended Weekly Gains Amid Return of Foreign
Li Chen
21 Feb, 2025
Hong Kong
Stock market indexes in China and Hong Kong advanced amid speculation that the threat of the U.S. tariff headwinds may ease in the near future.
The Hang Seng index soared more than 3%, and the mainland-focused CSI 300 index advanced more than 1%, and benchmark indexes extended weekly gains to 3% and 0.6%, respectively.
The recent rally in artificial intelligence-linked stocks continued after Alibaba Group reported a surge in revenue and earnings, driven by the strong increase in its cloud services.
Moreover, foreign fund inflows have also supported the advances over the last five weeks, and the Hang Seng Tech index has rebounded by more than 20% from the low in January to approach a five-month high.
China Indexes and Stocks
The Hang Seng index soared 3.4% to 23,339.47, and the mainland-focused CSI 300 index advanced 1.1% to 3,975.34.
Alibaba Group jumped 13% to HK $137.60 after the e-commerce platform operator reported strong financial results in its latest quarter.
JD.com advanced 3.4% to HK $158.90, Tencent Holdings gained 5.2% to HK $512.0, and Meituan increased 3% to HK $161.80.
Residential property developers are in focus after China held steady its loan prime rates for 1-year and 5-year for the fourth month in a row in February this week.
China Vanke advanced 1.2% to HK $5.86, Longfor Group decreased 0.1% to HK $9.99, Sun Hung Kai Properties inched up 0.1% to HK $70.70.
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