Hong Kong stocks rose for a fifth day, the longest winning streak in three months, before reports this week that may signal a stronger recovery in the Chinese economy. Traders stepped up bets the US will pause on its policy tightening again next month.
The Hang Seng Index climbed 1.3 per cent to 17,893.10 on Wednesday, adding to a 2.7 per cent gain in the preceding four days. The Tech Index gained 2 per cent and the Shanghai Composite Index added 0.1 per cent
Alibaba Group added 1.4 per cent to HK$84.60 and Tencent rose 0.9 per cent to HK$311, while Sunny Optical rallied 12 per cent to HK$59.20. Chinese sportswear maker Li Ning gained 5.3 per cent to HK$33.55, and peer Anta Sports jumped 3.4 per cent to HK$88.70. Meituan advanced 3.7 per cent to HK$116.50.
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.
