China and Hong Kong Stocks Surge Amid Manufacturing Optimism
China and Hong Kong stocks rose on Monday due to positive manufacturing data and expected support from Beijing. The Shanghai Composite index and Hong Kong's Hang Seng Index saw significant gains. Factory activity increased as economic policies stimuled growth, impacting various sectors and fostering a positive market outlook.
China and Hong Kong stocks climbed on Monday, buoyed by promising manufacturing data and anticipation of continued policy aid from Beijing.
Midday saw the Shanghai Composite index rally by 1.02%, extending November's gains. China's blue-chip CSI300 index rose 0.7%, with the automotive sector leading with a 3.45% rise. Real estate and healthcare sectors also ascended.
Hong Kong's Hang Seng Index increased by 0.23%, inspired by data reporting China's factory activity expansion. The Caixin/S&P Global manufacturing PMI exceeded forecasts, marking its highest since June, reflecting heightened economic momentum fostered by policy support and export growth strategies.
(With inputs from agencies.)
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