China’s strong economic data boosts Hong Kong stocks; AIA and Li Ning lead gains
China’s retail sales grew 4 per cent in the first two months of the year, beating estimates of 3.8 per cent gain
The Hang Seng Index climbed 1.3 per cent to 24,276.64 at the break. The Hang Seng Tech Index slipped less than 0.1 per cent. On the mainland, the CSI 300 Index eased 0.1 per cent, while the Shanghai Composite Index added 0.3 per cent.
Electric-vehicle maker Li Auto bucked the trend, tumbling 6 per cent to HK$106.40 after its first-quarter revenue guidance fell short of expectations.
“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.”
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