Posted 2/27/2024, 4:14:30 AM
Hong Kong Stocks Rebound on Property and ETF Gains Ahead of Budget Report
- Hong Kong stocks rebounded, snapping a two-day decline, as property developers and ETFs rallied ahead of the government's budget report
- Li Auto share price surged 25% on a strong earnings report, while CLP and other stocks also rose
- Developers gained as weak home price data intensified calls for stimulus to support the property sector in the upcoming budget
- ETFs tracking Hong Kong and mainland indexes jumped as bets increased on potential market intervention
- Investor focus also on upcoming corporate earnings reports from Baidu, NetEase and Hong Kong Exchanges & Clearing