Stock Track | Hong Kong Tech ETF Soars as China Unleashes Market-Boosting Measures

Stock Track10-05

The HSTECH ETF, a bellwether tracking Hong Kong-listed technology stocks, soared 5.1% on Thursday, riding a wave of euphoria across Chinese equity markets fueled by Beijing's aggressive economic stimulus measures.

The surge followed a slew of policies unveiled by China on September 24th, including substantial interest rate cuts, fiscal support packages, and crucially, a groundbreaking swap program introduced by the People's Bank of China. This new facility grants funds, insurers, and brokers easier access to capital for trading stocks, providing a direct boost to equity market liquidity and sparking a frenzy of buying.

The impact was immediate and profound, with Chinese stocks logging their biggest single-day gains in over a decade on September 30th. Hong Kong's Hang Seng Index and the Hang Seng China Enterprises Index, which tracks major Chinese companies listed in the city, both climbed over 2% on October 4th, carrying the HSTECH ETF's tech constituents to new heights as investors cheered Beijing's efforts to shore up its ailing economy.

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