Chinese Markets Rally Amid Economic Optimism

China and Hong Kong shares rose on Friday after Beijing released growth-supportive comments at its annual economic conference. Although markets advanced at the end of the week, they closed slightly lower overall. Chinese leaders foresee continued policy focus on stimulating consumption and investment in the coming year.

Chinese and Hong Kong stock markets showed gains on Friday in response to Beijing's annual economic conference, which reaffirmed its growth-supportive stance.

China's CSI300 Index and the Shanghai Composite Index rose by 0.6% and 0.4%, respectively, while Hong Kong's Hang Seng Index increased by 1.8%. Despite these gains, markets ended the week moderately lower.

During the conference, Chinese leaders emphasized plans to sustain economic growth through proactive fiscal policy next year, with a target growth rate near 5%. Analysts, such as Goldman Sachs, noted policymakers' intent to stabilize the property sector and ease financial conditions.

(With inputs from agencies.)