Hang Seng Index hits 1-week high as China’s economic data exceeds expectations

China’s retail sales grew 4 per cent in the first two months of the year, beating estimates of a 3.8 per cent gain

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A large screen displays the latest stock exchange and economic data in Shanghai. Photo: EPA-EFE

Published: 10:49am, 17 Mar 2025Updated: 5:03pm, 17 Mar 2025

Hong Kong stocks rose to a one-week high on Monday as China’s key economic data beat expectations, pointing to a strengthening recovery in the Asian nation.

The Hang Seng Index climbed 0.8 per cent to 24,145.57 at the close, the highest since March 7. The Hang Seng Tech Index slipped 0.1 per cent. On the mainland, the CSI 300 Index eased 0.2 per cent, while the Shanghai Composite Index added 0.2 per cent.

AIA Group added 1.6 per cent to HK$62.20 after the insurer reported an 82 per cent profit jump for 2024 and a US$1.6 billion stock buy-back plan. Chow Tai Fook Jewellery Group led consumer stocks higher, jumping 4.6 per cent to HK$9.74, while sportswear maker Li Ning advanced 3.5 per cent to HK$18.98. Tencent Holdings rose 0.6 per cent to HK$524.50 and Meituan gained 1 per cent to HK$175.10.

Electric-vehicle maker Li Auto bucked the trend, tumbling 7.2 per cent to HK$105.10 after its first-quarter revenue guidance fell short of expectations.

China’s retail sales rose 4 per cent in the first two months of the year. Photo: CFOTO/Future Publishing via Getty Images

“A stabilisation in the economy and policy expectations will keep the rally in Hong Kong humming,” said Yi Huan, an analyst at Huatai Securities in Hong Kong. “We are positive that the revaluation of Chinese assets will unfold further.”