The Hang Seng Index rose 1.4% to 16,393.44 as of 11:10 a.m. local time, rebounding from Thursday's 2.6% decline. The high-tech index rose 2.5%, while the Shanghai Composite Index fell 0.2%.
Traders are currently waiting on key reporters this afternoon, where policymakers from the National Development and Reform Commission, Ministry of Finance, People's Bank of China, and China Securities Regulatory Commission are likely to explain the details of the government's economic stimulus package. I'm waiting for the press conference.
Despite today's gains, the Hang Seng Index is still down 0.7% this month after gaining 6.6% in February. Redmond Wong, chief China strategist at Saxo Markets, said the lack of reforms and the lack of a clear strategy in the legislative council to restore the economy's growth trend has increased pressure on domestic stocks. It is said that there is
Patrick Pan, strategist at Daiwa Capital Markets, said: “We are warning of the risk of a mismatch between 'policy and expectations'. This, combined with February's weak economic data, could be the trigger for stock markets to fall after two sessions. There is a possibility that it will happen.” In Wednesday's memo. More concrete measures are needed to address economic challenges, he said.
Following the decline in the US market, other major Asian markets also fell. South Korea's Kospi index fell 0.5%, Australia's S&P/ASX 200 index fell 0.1% and Japan's Nikki 225 fell 0.3%.
