Hang Seng Trims Gains, After Early Session Gains
The Hang Seng Index moved almost unchanged at around 26,375 in trading on Thursday (May 14), after initially strengthening earlier in the session but then reversing course. This flat movement reflects investor caution ahead of policy signals and diplomatic developments from the US-China summit.
Sentiment was initially buoyed by hopes that talks between US President Donald Trump and Chinese President Xi Jinping in Beijing could help stabilize relations between the two countries. Market focus was on issues potentially impacting the global risk climate, including trade, tariffs, artificial intelligence (AI), and the regional security agenda.
However, as the session progressed, buying interest faded as market participants opted to hold positions while awaiting a clearer direction from the meeting's outcome. Uncertainty regarding potential policy changes or a joint statement kept the index's movement limited.
In terms of stocks, the electronics technology sector remained supportive, with Xiaomi Corp. rising 0.6% and InnoScience Technology gaining 2.5%. Meanwhile, several major issuers weakened, including Tencent (-0.4%), Semiconductor Manufacturing International Corp. (SMIC) (-2.8%), and Meituan (-1.6%). (asd)
Source: Newsmaker.id
