Hong Kong Stocks Extend Rally
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Hong Kong stocks rose 440 points (1.6%) to 27,564, marking a six-session rally and the highest level since July 2021. The increase was driven by positive sentiment from mainland stocks and corporate earnings growth. Wall Street also closed mostly higher as investors awaited major tech earnings and the Fed's interest-rate decision. Hong Kong's trade saw record levels in December, with imports outpacing exports. Financial and property shares led the gains, with notable increases from Zijin Mining (4.4%), SMIC (2.8%), Sino Biopharmaceutical (2.6%), and Tencent (1.2%).
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