29.08.202508:35:48UTC+00Hang Seng Finishes August Higher After Snapping 3-Day Slide

The Hang Seng index gained 79 points, or 0.3%, closing at 25,078 on Friday. This rise marked the end of a three-day downturn, driven by robust performances in consumer and technology sectors. For the month of August, the index increased by 1.2%, marking its fourth consecutive monthly rise. This trend was fueled by strong movements in Chinese equities, which neared decade-highs supported by significant institutional investments, appealing valuations, and growth-focused policies, particularly in areas such as AI innovation and technological independence. Despite the upward momentum, markets adjusted earlier gains as U.S. futures experienced a significant downturn ahead of the release of the PCE inflation data, which is the Federal Reserve’s preferred measure for inflation. Traders are closely monitoring the report for insights into future interest rate decisions. Additionally, investors are eagerly anticipating China's official Purchasing Managers' Index (PMI) set to release this weekend, amidst ongoing concerns about weak demand, trade tensions, and deflationary pressures. Electric vehicle manufacturers experienced notable gains following Beijing's commitment to mitigate "disorderly competition," with Li Auto seeing an increase of 4.5%, alongside advances for Geely Auto (1.7%), Great Wall Motor (1.3%), and BYD (2.5%). Battery stocks also surged, with Tianqi Lithium (2.7%), Ganfeng Lithium (4.0%), and Tianneng Power (10.7%) recording significant upticks.