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Hong Kong Stocks Rebound as China Policy Signals Lift Sentiment; Sunmi Tech Shines on Debut

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-- Hong Kong stocks rebounded on Wednesday as policy signals from China's top leadership lifted sentiment alongside improving corporate earnings sentiment.

The Hang Seng Index gained 432.06 points, or 1.7%, to close at 26,111.84, while the Hang Seng China Enterprises Index added 160.79 points, or 1.9%, to 8,805.60.

China's Politburo called for faster development of a modern industrial system, wider adoption of artificial intelligence, and greater emphasis on technological self-reliance and supply chain resilience.

It also highlighted measures to support consumption, stabilize the property sector, protect employment, and address industrial overcapacity.

Meanwhile, markets also absorbed the surprise departure of the United Arab Emirates from OPEC, although the broader alliance is expected to remain intact.

In corporate news, Shanghai Sunmi Technology (HKG:6810) made its Hong Kong debut, closing 241% higher at HK$84.80, compared with the offer price of HK$24.86.

Hong Kong Exchanges and Clearing (HKG:0388) gained nearly 3% after reporting a 27% increase in first-quarter profit.

Geely Automobile (HKG:0175) gained nearly 3% despite reporting a 27% decline in first-quarter profit.

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