Hong Kong Shares Rally to 4-Year High

Hong Kong stocks jumped 358 points or 1.4% to 25,988 in early deals on Tuesday, rising for the third straight session to their highest level since October 2021 as all sectors advanced. Optimism from Wall Street Monday lifted sentiment ahead of expected Fed rate cuts later this month. Property stocks in Hong Kong led gains, climbing about 2% after Shenzhen city eased home purchase curbs last week. Tech, financials, and consumer shares also rose, supported by a third straight advance in mainland markets as Beijing moves toward a record trade surplus despite August exports hitting a six-month low. Still, upside was tempered by caution ahead of China’s August CPI and PPI releases on Wednesday, with deflation concerns persisting after July’s flat consumer prices and the 34th straight decline in producer prices. Among heavyweights, Tencent gained 1.4%, Xiaomi 1.1%, and AIA Group 2.9%. Other notable movers included Geely Auto (4.0%), China Land (3.9%), Kuaishou Tech (3.8%), and SMIC (3.0%).