The Hang Seng rose 72 points, or 0.3%, to end at 25,321 on Thursday, halting a three-day decline as financials and property stocks led gains. Bargain hunting helped lift the market from an 11-week low. Sentiment also improved after China signaled a shift toward economic rebalancing, setting its 2026 growth target at 4.5%–5% from the “around 5%” pace of recent years. Beijing’s 15th five-year plan pledged higher spending on innovation, high-tech industries, scientific research, and household consumption, while keeping fiscal deficit at 4.0% of GDP and inflation near 2.0%. Early strength faded, however, as U.S. futures fell sharply on mounting geopolitical risks, even after President Trump vowed protection for shippers following a U.S. submarine’s sinking of an Iranian warship. Caution also grew ahead of key Chinese data next week, including February inflation and trade figures. Standouts included Akeso Inc. (7.0%), AIA Group (5.1%), XPeng (2.8%), and Sun Hung Kai Properties (2.4%).