Hong Kong's Hang Seng Index led regional shares today, up circa 2.3% on the day.
- the Hang Seng Tech Index +2.45%
On mainland China’s Shenzhen +0.56%
- Shanghai Composite +0.3%.
- CSI 300 +1%
A key driver in China is reopening moves. Another is the property sector where there were signs of further fresh support from Chinese state banks for the sector. Sunac China (a developer) laid out restructuring plans. An index tracking mainland property developers shot 10% higher and hit a 4 month high.
We had inflation data also:
- China's CPI YoY for November 1.6% versus 1.6% expected
- Credit Suisse says China’s inflation likely to stay below 3% in the next 12 to 18 months
Controlled inflation leaves space for further policy stimulus and will remain a tailwind for stocks.
CNH was relatively subdued:
