Shares in Hong Kong Hover at 2-Week Peak
Hong Kong stocks climbed 211 points or 0.9% to 23,869 on Thursday morning deals, increasing for the third session. Markets reached their highest level in two weeks, driven by broad-based sector gains and private survey data indicating a rebound in China's services activity in May, following a seven-month low in April. Optimism over potential U.S.-China trade talks also lifted sentiment as investors watched for signs of easing tensions.
In other news, Beijing has introduced a national tracking system for seven rare earth elements, following April's export restrictions and new licensing requirements. A slight dip in U.S. futures limited further gains after the OECD recently lowered its 2025 U.S. growth forecast to 1.6% from 2.2%, citing tariff risks and policy uncertainty. CGN Mining jumped nearly 3% after securing a big deal to supply 0.8 million pounds of natural uranium to China Uranium Dev. Other top early movers included China Resources Land (5.5%), Meituan (3.6%), and SMIC (2.6%).
Source; Trading Economics
