Hopes Rise as China Eyes Property Market Revival

China's stock market experienced mixed movements, with Hong Kong shares rising as anticipation grows for a government update on the property sector. Expectations of policy easing to support economic recovery are high despite lingering uncertainties. Property stocks led gains, while tech stocks declined.

China's stock market exhibited volatile behavior on Wednesday, with Hong Kong shares making gains, as investors looked ahead to a governmental briefing on the beleaguered property sector. The blue-chip CSI300 Index inched down 0.2%, yet the Shanghai Composite Index rose by 0.4%.

Conversely, Hong Kong's benchmark Hang Seng Index climbed by 0.9%, and the Hang Seng China Enterprises Index witnessed a 1% uplift. The anticipation is mounting for Thursday's press conference by the State Council Information Office, aimed at fostering a 'steady and healthy' growth in the property domain.

Investor optimism is rekindled regarding prospective policy easing measures to stimulate a recovery in the housing and broader economic arenas. However, uncertainties persist around the scope and execution of these potential stimuli, cautioned Norman Villamin from UBP Group.

(With inputs from agencies.)