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Zhang Shidong

Hong Kong stocks edged up on Thursday as softer data on the US jobs market reinforced bets on an interest-rate cut next week.
The Hang Seng Index rose 0.7 per cent to 25,935.90 at the close, after fluctuating between gains and losses in morning trading. The Hang Seng Tech Index rallied 1.5 per cent.
On the mainland, the CSI 300 Index gained 0.3 per cent and the Shanghai Composite Index slipped 0.1 per cent.
Gold producer Zijin Mining Group advanced 1.3 per cent to HK$33.20, mirroring recent gains in the price of the precious metal in the run-up to the US monetary policy meeting next week. Online travel agency Trip.com Group surged 3.9 per cent to HK$556 and smartphone maker Xiaomi added 4.4 per cent to HK$41.98.
Tempering gains, electric vehicle maker Li Auto shed 0.5 per cent to HK$69.40 on news the stock would be removed from the FTSE China index series. Industrial and Commercial Bank of China declined 1.6 per cent to HK$6.22 as the stock went ex-dividend, meaning that those buying into the stock starting on Thursday would not be entitled to an interim dividend of 0.1434 yuan.
Rates traders priced in a more than 90 per cent probability of a quarter-point reduction next week after a private report indicated that US companies cut payrolls by the most since early 2023 last month. Global stocks have recovered from sell-offs as investors grow optimistic that financial loosening will underpin elevated valuations and stretch the boom on artificial intelligence.
“Expectations about a rate cut in the US have been building, and that’ll keep attracting fund inflows,” said Jiang Kailai, an analyst at Zheshang International. “Sentiment is expected to remain optimistic in the near term.”
After an almost 30 per cent gain in the Hang Seng Index in 2025, investors would be more focused on corporate earnings growth in the following year, which would be the key to determining the performance of Chinese stocks in 2026, after valuation expansion priced equities into perfection for now, according to Bank of America.
In a sign of appeasing tensions with Beijing, Japanese Prime Minister Sanae Takaichi said during questioning by lawmakers that the government was committed to its stance that Taiwan was part of China. Her earlier comments on Japan’s possible military involvement on the island infuriated China and led to retaliatory measures that suspended seafood imports and personnel exchanges at all levels.
A recent quarterly review by FTSE Russell of two key indexes tracking Chinese stocks may result in more than US$850 million of capital flows, according to Goldman Sachs. Capital goods, metal and pharmaceutical companies would each attract between US$125 million and US$300 million in passive inflows after the quarterly rebalancing that saw the inclusion of Contemporary Amperex Technology and Jiangsu Hengrui Pharmaceuticals, it said.
Meanwhile, investors are on high alert for a rate-decision meeting by the Bank of Japan in coming weeks after governor Kazuo Ueda hinted at an imminent increase in borrowing costs. A hike would narrow the interest-rate spread between the US dollar and the yen, boosting the risk of unravelling the carry trade. Such unwinding would lead to sell-offs in dollar-denominated assets to repay yen debts, with the ramifications rippling across asset classes.
Other major Asian markets were mixed. Japan’s Nikkei 225 climbed 2.3 per cent and Australia’s S&P/ASX 200 added 0.3 per cent, while South Korea’s Kospi retreated 0.2 per cent.


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Rates traders price in more than 90 per cent probability of a quarter-point reduction next week after private US labour market report


Rates traders price in more than 90 per cent probability of a quarter-point reduction next week after private US labour market report.


Hong Kong stocks edge higher as weak jobs data firms up rate-cut bets

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Rates traders price in more than 90 per cent probability of a quarter-point reduction next week after private US labour market report

Rates traders price in more than 90 per cent probability of a quarter-point reduction next week after private US labour market report