Positive Week Start, Hang Seng Regains Gains
Hong Kong stocks surged 648 points, or 2.4%, to 27,056 in Monday's morning session, recovering from the previous day's losses amid broad sector gains. Sentiment was boosted as mainland Chinese markets reopened on Tuesday after a weeklong holiday. Meanwhile, a Financial Times report said Trump's new 15% global tariffs could benefit countries he has criticized, including China and Brazil. Separately, US Trade Representative Greer noted that the measures would not impact Trump's planned meeting with Chinese leader Xi Jinping. However, a sharp decline in US futures capped gains after Wall Street ended higher on Friday, led by consumer stocks. Locally, Hong Kong's unemployment rate rose to 3.9% in the three months to January, the highest since September 2022. Caution is also growing ahead of key data this week, including Hong Kong's fourth-quarter GDP, January inflation, and trade data. Shares that experienced increases in early trading included Meituan (3.5%), Zijin Gold Intl. (3.4%), SMIC (2.9%), Tencent (2.2%), and Xiaomi Corp. (1.8%). (asd)
Source: Newsmaker.id
