HK and mainland stocks post modest gains
Stocks in Hong Kong ended in positive territory before the National Day holiday on Wednesday as the Hang Seng Index rose 0.37 percent to close at 24,613 points while the Hang Seng China Enterprises Index rose 0.50 percent, and the Hang Seng Tech Index rose 0.10 percent. Up north, the Shanghai Composite index closed up 0.3 percent while the CSI 300 Index also rose 0.3 percent at market close.…
Hong Kong and mainland stocks showed small gains on Wednesday as the holiday season approached. The Hang Seng Index climbed 0.37 percent to 24,613, while the Hang Seng China Enterprises Index and the Hang Seng Tech Index both increased by 0.50 and 0.10 percent respectively. In Shanghai, the Composite index and the CSI 300 Index recorded a 0.3 percent rise each.
Despite the modest market uplift, Chinese blue chips remained close to their one-year lows despite Beijing's recent credit and mortgage support measures announced on Tuesday. The People's Bank of China cut its one-year pledged supplementary lending rate by 25 basis points to 1.5 percent to aid infrastructure investment. Authorities also expanded re-lending quotas for tech firms and small businesses, and introduced mortgage subsidies for first-time homebuyers.
While the government's policy direction appears positive, it has avoided strong stimulus, with the measures deemed insufficient by Charles Wang, chairman of Shenzhen Dragon Pacific Capital Management. Market sentiment remained cautious as investors prepared for the National Day holiday, which begins on Thursday. Liquidity has significantly decreased, with turnover on China's Shanghai and Shenzhen exchanges falling to 1.41 trillion yuan on Tuesday, the lowest level since July 2025.
Written by urgent.news from RTHK News - Finance's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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