FX.co ★ Hang Seng Surges 1.2% at Close

The Hang Seng Index rose by 298 points, marking a 1.2% increase to close at 24,475 on Wednesday. This marks its fourth consecutive day of gains, reaching the highest point in over three months. The upward trend mirrored the robust performance on Wall Street, influenced by a U.S.-mediated ceasefire between Iran and Israel, with both countries temporarily halting air strikes. Meanwhile, Federal Reserve Chair Jerome Powell reiterated there is no urgency to implement rate cuts, although some analysts speculate that easing could occur sooner if inflation remains in check. In China, Beijing introduced new policies aimed at boosting consumer spending by leveraging financial tools to support employment, increase income levels, and fortify overall economic growth. Premier Li Qiang voiced optimism about sustaining a relatively rapid growth trajectory and shifting toward a consumer-driven economic model. Gains were widespread across sectors, particularly in property, technology, and finance. Notable performers included JD Logistics, which rose by 6.7%, SMIC with a 6.4% increase, Henderson Land up by 4.7%, and Longfor Group climbing by 3.7%.