10.09.202503:15:45UTC+00Hong Kong Stocks Rise for 4th Session

Hong Kong's stock market saw a climb of 464 points, nearing a 1.0% increase to reach 26,187 by midday on Wednesday. This marks the fourth consecutive day of gains, hitting its highest point in four years due to widespread advances across various sectors. The market's positive sentiment was reflected by record highs on Wall Street's S&P 500 and Nasdaq, with traders anticipating potential interest rate cuts by the Federal Reserve next week and closely monitoring critical inflation data from the U.S. Appetite for risk was further bolstered by a renewed bilateral currency swap agreement between China and several European central banks, which could enhance cross-border trade flows. Technology stocks were at the forefront of this rally, rising over 1%, along with strong performances from financial and property sectors. However, the overall uptrend was tempered by ongoing concerns over deflation in China, evidenced by new data showing a significant drop in consumer prices over the past six months and the continued contraction in producer prices for 35 months, albeit at a slower rate. Among the prominent gainers were Trip.com with a 2.8% rise, China Unicom up by 2.7%, Meituan increasing by 2.5%, and Lenovo Group advancing by 2.1%.