The Hang Seng surged 615 points, or 3.0%, to close at 21,252 on Thursday, rebounding from a two-day selloff following new highs on Wall Street's S&P 500 and Dow Wednesday, as focus shifted to the start of the US earnings season. Sentiment was further lifted after the PBoC launched a swap program to aid China's stock market. Investors also looked ahead to Saturday’s finance ministry press briefing for details on fiscal stimulus from Beijing, following signals from top officials about their commitment to boost growth. All sectors posted strong gains, led by financials, consumers, and tech. Solid advances included Geely Auto (9.3%), Trip.com (8.7%), BYD Electronic (6.8%), and China Hongqiao Group (5.9%). Despite the rally, the index plunged 6.5% for the week, its first drop in four, weighed down by escalating Middle East tensions, continued trade friction with the West, and a sixth month of declining retail sales in Hong Kong for August. Markets will be closed Friday for a public holiday.
