The Hang Seng Index gained 0.5 per cent to 20,417.72 as of 9.47am local time, paring to 0.6 per cent the decline for the five-day period. The Hang Seng Tech Index slipped less than 0.1 per cent.
Mainland benchmarks also edged higher. The CSI 300 Index climbed 0.4 per cent and the Shanghai Composite Index added 0.2 per cent.
Home sales by China’s 22 key property developers jumped 66 per cent from a month earlier in October, according to China Real Estate Information Corp. Sales rose 2 per cent from a year earlier, it said.
“We attribute this to a strong improvement in homebuyers’ sentiment due to the central government’s resolute stance on saving China’s property market,” said Raymond Cheng, managing director at CGS International Securities in Hong Kong. “The central government realises the importance of the property market to the economy and will accelerate policy implementation and launch more supportive policies to stimulate genuine demand and destocking. Therefore, we expect property sales to register year-on-year growth in the fourth quarter and 2025.”
