Hong Kong Stocks Rise for 4th Session

Shares in Hong Kong climbed 464 points or almost 1.0% to 26,187 around midday on Wednesday, extending gains for the fourth straight session and holding at their highest level in four years amid broad-based advances. Sentiment was lifted by record closes on Wall Street’s S&P 500 and Nasdaq, with traders positioning for likely Fed rate cuts next week and awaiting key U.S. inflation data. Risk appetite was also supported by a renewed bilateral currency swap agreement between China and several European central banks, seen as a boost to cross-border trade flows. Tech stocks led the rally, up over 1%, followed by financials and property. Still, upside momentum was capped by signs of persistent deflation risks in China, with fresh data showing consumer prices posted their sharpest fall in six months while producer prices contracted for the 35th consecutive month, though at a slower pace. Notable gainers included Trip.com (2.8%), China Unicom (2.7%), Meituan (2.5%), and Lenovo Group (2.1%).