FX.co ★ Hang Seng Jumps 3.6% this Week

On Friday, the Hang Seng Index advanced by 192 points, equivalent to a 0.7% increase, closing at 26,160. This continuation of gains from the previous session was driven by a combination of robust inflows and a significant uptick in Shanghai shares, which reached a 10-year high. Contributing to this positive momentum was China's recent commitment, announced at the conclusion of a significant policy meeting, to enhance the proportion of household consumption in the Gross Domestic Product (GDP) over the coming five years. Additionally, policymakers reiterated their dedication to achieving the economic goals set for 2025, particularly emphasizing support for technological self-reliance.

The gains were widespread, with notable advances seen in the technology, consumer, and property sectors. Semiconductor Manufacturing International Corporation (SMIC) surged by 7.4%, while Horizon Robotics saw a rise of 6.1%. China Hongqiao Group increased by 4.1%, and Trip.com added 3.3% to its value.

Over the week, the index posted a 3.6% gain, marking its first rise in three weeks. This improvement was partly attributable to the reduction in Sino-U.S. trade tensions, underscored by the announcement that President Trump is scheduled to meet with Chinese President Xi Jinping in South Korea next week. Additionally, there is widespread anticipation that the U.S. Federal Reserve will lower interest rates in the upcoming week and potentially again in December. However, further gains in Hong Kong were somewhat restrained by investor caution ahead of the release of September's trade data and the third-quarter GDP figures.