Hong Kong Stocks Rebound After Sharp Drop
Hong Kong stocks surged 495 points, or 2.5%, to 20,304 in early trade on Tuesday, recovering from a historic 13.2% plunge in the previous session, their steepest single-day decline since 2008. The gains were supported by broad gains, led by strength in the technology and consumer discretionary sectors. Sentiment improved, supported by a sharp rise in U.S. stock futures, after Wall Street’s S&P 500 posted its third straight loss overnight following President Trump’s latest tariff announcement.
Meanwhile, Beijing warned it would “fight to the end” if the U.S. went ahead with additional tariffs, reiterating its readiness to impose further countermeasures. Traders also engaged in bargain hunting after China renewed its pledge to cut borrowing costs and RRR this year, as policymakers move to accelerate stimulus measures aimed at boosting consumption. Significant gains were seen in Horizon Robotics (9.3%), Trip.com (7.4%), Xiaomi Corp. (6.4%), Meituan (4.1%), and Semiconductor Manufacturing (3.6%).
Source: Trading Economics
