The Hang Seng rose 106 points or 0.4% to close at 25,541 on Wednesday, rebounding from morning losses and closing in the green for the first time in three sessions as most sectors gained. Sentiment improved as traders anticipated a third straight rate cut from the U.S. Fed later today, along with updated rate projections through 2026 in the “dot plot.” Markets also looked ahead to guidance from the upcoming Central Economic Work Conference in China, which is expected to emphasize a more proactive fiscal stance alongside moderately accommodative monetary support. Fresh data showed China’s annual inflation in November hit a 21-month high, though producer prices fell for the 38th month. On the corporate front, the troubled builder China Vanke held a bondholder meeting to vote on postponing repayment of CNY 2 billion. Shanghai Bao Pharmaceuticals soared 133% in its trading debut, while other notable gainers included Zijin Gold Intl. (4.0%), Meituan (2.3%), and China Hongqiao (2.1%).