HONG KONG - The Hang Seng Index witnessed a near 3% surge today as investor confidence soared following remarks by China's Premier Li Qiang on the country's commitment to economic revitalization. This boost in market sentiment aligns with reports that Beijing is considering a significant financial package aimed at supporting Chinese stocks.
Investors have responded positively to the potential introduction of a 2 trillion yuan financial package, which is expected to bolster the Chinese market. The prospect of such substantial state support has led to notable gains for U.S.-traded Chinese companies, including e-commerce giant Alibaba (NYSE:BABA) by 3.36%, online retailer JD (NASDAQ:JD).com by 4.67%, and electric vehicle manufacturer BYD (SZ:002594) by 1.35%.
The market is eagerly awaiting a detailed announcement regarding the market support measures, which is anticipated to be made public soon.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.