Hong Kong stocks rebound as Xi strikes upbeat tone on China’s economy
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Hong Kong stocks rebounded as President Xi Jinping met with US business leaders, pledging more policy support to improve the business environment in China. The Hang Seng Index added 0.2% to 16,426.49, while the Hang Seng Tech Index gained 1.6%. Home appliances maker Haier Smart Home shares rose 5.3% after posting better-than-estimated full-year results. Industrial and Commercial Bank of China fell 2.3% after reporting sluggish earnings. Xi dismissed narratives of China's economy collapsing or reaching its peak and vowed to create broader room for foreign businesses. Four companies made their trading debuts, with Fujing Holdings surging 104% and Lianlian DigiTech dropping 5.9%.
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