Hang Seng Surges 2.0% at Close
The Hang Seng jumped 417 points or 2.1% to end at 20,682 on Thursday, marking its third straight gain as traders shrugged off Washington’s latest tariff hike on Chinese goods—from 104% to 125%- on bets Beijing will do more to shield the economy from levies.
China also released a White Paper showing a willingness to engage with the U.S. to ease a trade war while vowing to take firm measures to defend its interests. Sentiment was further lifted by reports that top Chinese leaders were meeting to discuss new support measures, with regulators exploring fresh steps to calm markets.
Adding to the upbeat mood, March consumer prices fell just 0.1% yoy—far milder than February’s 0.7% drop and defying consensus of a slight increase. All sectors posted gains, bolstered by record mainland buying of HKD 35.5 billion in Hong Kong stocks via the Stock Connect on Wednesday. Tech and EV shares led the rally, with strong movers from Kuaishou (4.7%), Trip.com (4.0%), Li Auto (5.6%), and Geely (4.9%).
Source: Trading Economics