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Yulu Ao

Hong Kong stocks closed higher on Wednesday as investors bet on Beijing’s stimulus measures to shore up the property market and broader economy while waiting for clues on the US Federal Reserve’s policy path next year.
The Hang Seng Index rose 0.3 per cent to 25,540.78 at the close of trading after falling as much as 0.7 per cent earlier in the session. The Hang Seng Tech Index rose 0.5 per cent. On the mainland, the CSI 300 Index fell 0.1 per cent and the Shanghai Composite Index slipped 0.2 per cent.
Food-delivery service provider Meituan jumped 2.7 per cent to HK$100, while search-engine firm Baidu rose 1.8 per cent to HK$123.60, and short-video platform Kuaishou Technology added 0.8 per cent to HK$67.15.
Online-game provider NetEase retreated 0.9 per cent to HK$210.80, and electric-vehicle maker Li Auto declined 1.4 per cent to HK$66.15.
Chinese chipmaker Semiconductor Manufacturing International Corporation (SMIC) tumbled 0.2 per cent to HK$68.70, extending its losing streak, after US President Donald Trump allowed its US counterpart Nvidia to sell advanced artificial intelligence chips to China. SMIC’s shares have surged 112 per cent this year, fuelled by China’s push for technology self-sufficiency and stronger backing for domestic chipmakers amid escalating geopolitical tensions.
Chinese developers rallied in the afternoon session, lifted by speculation that Beijing may consider subsidising homebuyers’ loans to ease repayment burdens. Media reports suggesting that state-backed China Vanke may have made progress in its debt-restructuring talks with bondholders also helped sentiment.
China Vanke jumped 13 per cent to HK$3.78, China Jinmao Holdings surged 8.5 per cent to HK$1.27, and China Resources Land added 0.4 per cent.
“Mainland property stocks jumped sharply in the afternoon amid speculation that Vanke’s bondholder meeting had made progress, fuelling expectations of more supportive policies for the sector,” said Kenny Ng, a strategist at Everbright Securities International.
Overnight, US stocks ended slightly lower, with the S&P 500 inching down, as traders held back ahead of the Federal Reserve’s rate decision and comments from chair Jerome Powell. While a 25-basis-point rate cut was largely seen as all but certain, markets were more focused on any guidance regarding how quickly borrowing costs may fall over the coming year.
“The market is essentially fully priced for a cut at this meeting so the dot plot and the statement of economic projections will, with Powell’s press conference, dominate how markets respond,” said Vis Nayar, chief investment officer at Eastspring Investments, in a note.
Two stocks debuted today. Shanghai Bao Pharmaceuticals jumped 139 per cent to HK$63 in Hong Kong, while Beijing Biocytogen surged 147 per cent to 65.80 yuan in Shanghai.
Other major Asian markets weakened. Both Japan’s Nikkei 225 and Australia’s S&P/ASX 200 lost 0.1 per cent, while South Korea’s Kospi lost 0.2 per cent.


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Market sentiment buoyed by China homebuyer loan support talk and Vanke debt progress


Market sentiment buoyed by China homebuyer loan support talk and Vanke debt progress.


Hong Kong stocks end higher as China stimulus hopes spark property rally

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Market sentiment buoyed by China homebuyer loan support talk and Vanke debt progress

Market sentiment buoyed by China homebuyer loan support talk and Vanke debt progress