Semiconductor Manufacturing International Corporation (SMIC) saw its stock surge 16.15% on Thursday, as investors cheered better-than-expected economic data from China and monetary policy easing measures by the nation's central bank. The rally in SMIC shares was part of a broader upswing in Hong Kong stocks, driven by increasing optimism about China's economic recovery.

China's third-quarter GDP grew 4.6%, slightly exceeding expectations, while industrial output, retail sales, and fixed investment figures for the January-September period also exceeded forecasts. The positive data signals suggest that China's economy is gaining momentum after a prolonged period of sluggish growth.

Adding to the optimism, the People's Bank of China (PBOC) announced a series of measures aimed at boosting liquidity and supporting economic growth. These include plans to cut the reserve requirement ratio (RRR) by 25 to 50 basis points before the end of the year, reduce the loan prime rate (LPR) by 20 to 25 basis points on October 21, and launch new lending facilities with favorable interest rates.

As a leading semiconductor manufacturer, SMIC is expected to benefit from the improving economic conditions and potential increase in demand for chips. The company's strong performance on Thursday reflects investors' confidence in its growth prospects, backed by the positive economic data and policy support from the Chinese government.

SMIC's rally was part of a broader upswing in Hong Kong stocks, with the Hang Seng Index rising 2% and the Hang Seng Tech Index gaining 2.4%. Other Chinese companies listed in Hong Kong, such as Ronshine China, SUNAC, Meituan, Xiaomi, BYD, Tencent, Li Auto, Bilibili, and Baidu, also saw significant gains on the day.