Hong Kong stocks surge after China announces market reforms

Hong Kong stocks rallied after China’s market regulator unveiled a series of market reforms aimed at enhancing the city’s status as a financial hub, with sentiment also getting a boost from the prospect of a bigger investor base following the changes.

The Hang Seng Index rose 1.8 per cent on Monday to close at 16,511.69. The Tech Index gained an identical 1.8 per cent, while the Shanghai Composite Index fell 0.7 per cent.

Among the most heavily traded stocks were Hong Kong Exchanges and Clearing, the stock exchange operator, which rose as much as 3.7 per cent but gave up some gains to end the day at HK$220, still up 2.5 per cent on the day. Topping the volumes list were gaming giant Tencent, which jumped 5.3 per cent to HK$320 and food delivery company Meituan which advanced 5.6 per cent to HK$100.60. E-commerce behemoth Alibaba was up 2.5 per cent at HK$68.35.

Fidelity China Special Situations PLC (LON:FCSS), the UK’s largest China Investment Trust, capitalises on Fidelity’s extensive, locally-based analyst team to find attractive opportunities in a market too big to ignore.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Fidelity China Special Situations

More articles like this

Fidelity China Special Situations

Stocks surge in China on positive economic developments

Stocks in China and Hong Kong experienced a notable rebound on Wednesday, as investor sentiment was buoyed by encouraging reports. A Reuters article revealed that China is preparing for a record budget deficit for 2025, alongside

Fidelity China Special Situations

China’s policy shift sparks market rally

Stocks surged and China’s government bonds saw a significant rally after the Politburo indicated a change in its monetary policy, signalling further easing measures in the near future, similar to strategies used during past crises. The

Fidelity China Special Situations

China’s economic recovery gains momentum

China’s economic landscape as 2024 nears its close reflects a mix of cautious optimism and enduring hurdles. McKinsey’s latest insights highlight both resilience and uncertainty, with the year characterised by consumer spending shifts and Beijing’s stimulus

Fidelity China Special Situations

Positive momentum in Hong Kong’s stock market

Hong Kong stocks advanced for a second consecutive day, driven by optimism about China’s support for the city’s financial market. This has reinforced its position as a key financial hub. The Hang Seng Index gained 0.4

Fidelity China Special Situations

China stocks rise as traders brace for a key week

China’s stock markets saw a positive trend on Monday, as traders prepared for an eventful week. With a US election looming, potential changes in interest rates, and a significant policy meeting set to take place in

Fidelity China Special Situations

Modest gains for China’s stock market as tech shares lead

China’s stock market experienced modest gains on Monday, driven primarily by technology shares. This followed Beijing’s announcement of new initiatives aimed at supporting innovative tech companies. Additionally, the country cut its benchmark lending rates, contributing to

Fidelity China Special Situations

Chinese stocks surge amid aggressive stimulus measures

Chinese stocks experienced a remarkable surge, marking their largest single-day gains in 16 years, driven by new stimulus measures from Beijing. The domestic A-shares reached record turnover as investors rushed to capitalise on the ongoing rally.

Fidelity China Special Situations

China’s economic stimulus sparks Asian stock surge

China’s stock market experienced its strongest week since 2008, driving Asian shares to their highest level in two and a half years. This surge was largely attributed to Beijing’s launch of a substantial stimulus package aimed

Fidelity China Special Situations

China’s growing influence in global investment and cooperation

China’s efforts to attract and utilise foreign capital are strengthening, leading to new developments in two-way investment. Amid global challenges and declining cross-border investment, the country has been actively promoting its attractiveness in opening up and

Fidelity China Special Situations

Optimism grows for China’s market recovery

Sumitomo Mitsui DS Asset Management recently expressed confidence that China has passed its most challenging period, despite ongoing concerns in the property sector. The firm believes that Chinese equities now present an attractive investment opportunity, given