💡Will the HSI trade above 20,000 ahead of next week's Central Economic Work Conference?
• Hong Kong's benchmark HSI index has been creeping higher over the past week, with the December futures index rising 3.1% from just under 19,200 on 25 November to yesterday's close at 17,785
• The index gains happened despite higher tariffs threatened by US President-elect Donald Trump on the night of 25th November. It appears that investors are focusing on something else.
• According to Bloomberg yesterday, China's top leaders plan to start the annual closed-door Central Economic Work Conference next Wednesday to map out economic targets and stimulus plans for 2025
• The high-profile conclave — scrutinized by investors for how officials steering the world’s No. 2 economy plan to direct monetary, fiscal and industrial policies. While any specific numbers settled on won’t be revealed until the yearly parliament session in March 2025, the market will be looking out for clues of policymakers’ conclusions.
• Investor expectations on more policy support from the upcoming meeting could be what is keeping the HSI afloat and propelling onto higher levels.
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