The Hang Seng soared 700 points, or 2.6%, to close at 27,827 on Wednesday, marking its biggest one-day gain since January 2 and closing at a 4-1/2-year peak. The benchmark rose for a sixth straight session, following advances on Wall Street Tuesday, boosted by broad sector strength. Energy and materials led the rally, with sub-indexes up 4.0% and 3.5%, respectively, after gold broke above USD 5,200 for the first time, extending a sharp rise as the dollar slid to a near four-year low amid geopolitical tensions. In corporate news, China approved its first batch of Nvidia’s H200 AI chips for import, while Busy Ming Group soared 75% on its Hong Kong debut after raising HKD 3.67 billion in an IPO. Property developer China Vanke rose solidly after fresh backing from a top shareholder, Shenzhen Metro. Zijin Gold Intl. and China Hongqiao each jumped 7.1%, while SMIC added 3.7%. Investors now await the U.S. Fed rate decision later today and guidance on the outlook for the policy rate this year.
