Hong Kong stocks increased 89 points or 0.3 to 25,191 in early trade on Friday, supported by gains across most sectors. The market recovered from the prior session’s losses despite overnight weakness on Wall Street, as investors cautiously awaited Fed Chair Powell’s speech at Jackson Hole. Sentiment also improved on hopes of fresh stimulus from Beijing after China’s economy slowed in July. Starting in September, the Chinese government will launch a one-year consumer loan subsidy, covering 90% of interest costs, with local authorities funding the rest. Locally, Hong Kong’s annual inflation hit a 4-year low of 1.0% in July, marking a third month of slowdown. Among notable movers, SMIC gained 5.9%, followed by Wuxi Biologics (2.9%), Kuaishou Tech. (2.8%), and Xiaomi (2.0%). However, the Hang Seng is set for its first weekly loss in three, down about 0.4% so far, due to a rising jobless rate in Hong Kong that climbed to 3.7% in the three months through July, the highest in 2-1/2 years.