Hong Kong Stocks Surge: Chinese Property and Financial Giants Lead the Way

Hong Kong stocks rallied on Wednesday, powered by Chinese property and financial companies following Beijing's stimulus measures and relaxed home purchase rules. The Hang Seng Index saw its biggest one-day gain since November 2022, rising 6.2%. Traders are optimistic about a more favorable environment for Chinese equities in Q4 2024.

On Wednesday, Hong Kong stocks saw significant gains, led by Chinese property and financial firms, as Beijing's stimulus measures and relaxed home purchase rules boosted market sentiment.

The benchmark Hang Seng Index climbed 6.2% to 22,443.73, marking the largest one-day percentage increase since November 2022. This rise extended the index's gains to a sixth consecutive session, showcasing robust market health.

The Hang Seng Mainland Properties Index jumped 14.88% with substantial gains from major firms such as Yuexiu Property and Longfor Group. The bullish sentiment was furthered by global traders and Chinese investors eager to capitalize on the rally.

(With inputs from agencies.)