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Wednesday, September 24, 2025

Hang Seng Rebounds After Two-Session Slide

Hang Seng Rebounds After Two-Session Slide

Hang Seng Rebounds After Two-Session Slide

On Wednesday, the Hang Seng Index increased by 359 points, or 1.4%, ending at 26,519, effectively breaking a two-day losing streak. This rise was primarily driven by robust performance in consumer and technology stocks. Investor sentiment improved following reports that China is formulating regulations to enhance competition in the food delivery sector. The proposed rules include capping restaurant service fees, enhancing the transparency of subsidies, and limiting charges imposed by platforms. As a result, Meituan saw a 0.9% increase in its stock price, while JD.com rose by 3.6%. Furthermore, Alibaba's shares soared nearly 10% after the company committed over USD 53 billion to its AI investments, surpassing its previous target, and introduced a new AI model. China Vanke's stock also climbed by 1.1% as the company engaged in discussions with domestic creditors to reduce borrowing costs on private debt. Meanwhile, Semiconductor Manufacturing International Corporation (SMIC) experienced a 5.8% jump due to optimism surrounding AI and semiconductor advancements. However, the upside was tempered by concerns regarding Typhoon Ragasa, the strongest cyclone of the year. Cathay Pacific announced plans to cancel over 500 regional flights, reposition its aircraft, and gradually resume operations from Thursday into Friday.


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