PT Rifan Financindo Berjangka - Equities in Hong Kong surged 233 points or 1.2% to 19,789 in early trade on Friday, bouncing back from a weak session the prior day amid optimism that China’s central bank will deliver more monetary easing next year to bolster growth and combat deflation. Goldman Sachs and Morgan Stanley forecast reductions of 40bps to the PBoC’s main policy rate in 2025, the largest interest rate cut in a decade. The Hang Seng is on track for its second straight weekly gain, up nearly 2% so far, buoyed by hopes of positive outcomes from the upcoming central economic working forum and Politburo meeting in China.
However, further gains were tempered by a pullback in US futures, ahead of the monthly US jobs report later today. Meantime, some traders adopted a cautious stance before key Chinese data next week, including CPI, PPI, and trade figures. Among the top early movers were Giant Biogene Holdings (7.3%), Prada Spa (5.2%), Wuxi Biologics (4.3%), China Longyuan Power (3.4%), and Kunlun Energy (3.0%).(Cay) PT Rifan Financindo Berjangka.
Source: Trading Economi
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