24.03.202608:25:12UTC+00Hang Seng Rallies on Bargain Hunting, Policy Support

The Hang Seng Index jumped 681 points, or 2.8%, to close at 25,064 on Tuesday, snapping a three-session losing streak as bargain hunters stepped in after local equities fell to their lowest levels since early August. Gains were broad-based across sectors. Risk appetite was also buoyed by remarks from U.S. President Trump describing talks with Iranian officials as “productive,” even as Tehran denied that any negotiations were taking place.

On the mainland, equities rebounded after reports that China would cut in half its planned fuel price increases to ease cost pressures on drivers. In addition, PBoC Governor Pan Gongsheng reiterated that the central bank would maintain supportive policies to underpin stable economic growth and safeguard financial market stability. Still, some caution persisted ahead of Hong Kong’s February trade figures, following a swing to a deficit in December.

In corporate news, Alibaba Hong Kong rose 3.3% after unveiling a next-generation chip designed for agentic AI applications. China Resources Beer rallied 8.2% on stronger sales, while Li Ning edged up 0.44% on upbeat guidance. Cathay Pacific added 1.7% after extending flight cancellations to Dubai and Riyadh through May.