Hang Seng Turns Early Losses to End Slightly Higher
The Hang Seng index rose by 38 points, or 0.1%, closing at 26,885, reversing earlier losses. This marks the third consecutive gain, driven by advances in property, tech, and consumer stocks as concerns over tax adjustments eased. A strong IPO pipeline with 13 new listings and expectations of new support measures from Beijing after the Lunar New Year further boosted sentiment. Notable gainers included Baidu, which rose 2.7% after announcing a dividend and buyback program, along with Xiaomi Corp., Mixue Group, Pop Mart Intl., and Meituan.
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