China and Hong Kong Stocks Extend Winning Streak Amid Economic Optimism
China and Hong Kong stock markets saw gains, extending their positive streak to a fifth month. Positive sentiment is driven by policy support and significant investments ahead of key holidays. Both blue-chip indices and semiconductor shares experienced notable rises, amid anticipation of China's upcoming Communist Party meeting and its economic implications.
China and Hong Kong stock markets have extended their upward trajectory, marking a fifth consecutive month of gains buoyed by optimism over policy support and imminent holidays.
The CSI300 Index of China rose 3% in September, its longest monthly rally since 2017, while Hong Kong's Hang Seng Index saw a 7% increase. By market close, both the CSI300 and the Shanghai Composite Index had gained 0.5%, with the Hang Seng Index up nearly 1%.
Investors found confidence in the rise of onshore semiconductor shares after DeepSeek unveiled a new model, boosting sentiments further alongside China's injection of 500 billion yuan into investment projects. Attention now shifts to the Communist Party meeting scheduled for October, where future economic plans are expected to be discussed.
(With inputs from agencies.)
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