Hong Kong shares surged 365 points, or 1.4%, to 26,192 in Tuesday morning trade, extending the prior session’s rally and notching a two-week high. Sentiment was buoyed by Wall Street’s rebound overnight and oil prices slipping below USD 100 per barrel. In China, equities edged higher after recent weakness, supported by solid activity data for January–February, with industrial output, retail sales, and fixed investment all rising. All major sectors in Hong Kong rose, led by tech and property, though gains were tempered by caution ahead of China’s monthly lending rate fix later this week. In February, the PBoC kept loan prime rates unchanged at record lows for the ninth straight month. Meanwhile, the Iran conflict clouds prospects for the upcoming Trump–Xi Jinping summit later this month, as Washington seeks Beijing’s support to reopen the Strait of Hormuz. Early movers included Pop Mart Intl. (4.8%), Zijin Gold Intl. (4.6%), Meituan (4.2%), Xiaomi Corp. (3.8%), and Laopu Gold (3.3%).
