Why are Hong Kong stocks rising?

Hong Kong stocks are rising due to softer US inflation data, which increases the likelihood of monetary easing.

What was the US inflation rate in November?

US core inflation accelerated at 2.6% in November, the slowest pace since early 2021.

Which companies performed well in Hong Kong?

Nongfu Spring and CSPC Pharmaceutical Group showed significant gains on Friday.

Home / Business and Economy / Hong Kong Stocks Rally on US Inflation Hopes

Hong Kong Stocks Rally on US Inflation Hopes

19 Dec

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Summary

Hong Kong stocks surged for a third consecutive day.
US core inflation in November hit its slowest pace since early 2021.
The Hang Seng Index is on track for its longest winning streak in three weeks.

Hong Kong Stocks Rally on US Inflation Hopes

Hong Kong's stock market extended its winning streak into a third session on Friday, driven by encouraging US inflation figures. The benchmark Hang Seng Index saw a notable uptick, indicating a positive investor sentiment as the data fuels hopes for future monetary policy adjustments.

Official data released on Thursday revealed that US core inflation accelerated at a slower pace of 2.6 per cent in November, marking the slowest increase since early 2021. Overall consumer prices rose 2.7 per cent year-on-year, significantly below the consensus forecast.

Despite the overall market uplift, the Hang Seng Tech Index experienced a slight decline. Nevertheless, prominent companies such as Nongfu Spring and CSPC Pharmaceutical Group recorded substantial gains, contributing to the day's positive performance.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.