PT Rifan Financindo Berjangka - The Hang Seng soared 444 points or 2.3% to close at 19,603 on Wednesday, gaining for the second day amid mounting optimism about potential supportive policies from China to counter tariff risks.
Traders showed increased confidence that the PBoC may further cut RRR in December to spur economic recovery in China, after two reductions totaling 100bps in September and February.
A positive lead from Wall Street Tuesday also enhanced risk appetite, ahead of the US PCE index and indications of further interest rate cuts as Fed officials seemed comfortable with the pace of inflation.
Meanwhile, industrial profits in the mainland fell 10.0% yoy in October, much slower than the prior 27.1% plunge. Investors now anticipate official PMI data in China, set to be released over the weekend.
Gains were broad-based, with robust performance from all sectors. Meituan jumped (7.6%), followed by Chow Tai Fook Jewellery (6.1%), Techtronic Inds. (5.2%), Semicon Manufacturing (3.9%), and Xiaomi Corp. (3.7%). PT Rifan Financindo Berjangka.
Source: Trading Economics
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