Hang Seng Finishes 0.6% Higher
The Hang Seng rose 136 points or 0.6% to close at 24,028 on Thursday, partly recovering from a sharp drop the day before amid strong gains in financial and property stocks.
Traders looked for signs of policy support after China’s producer prices last month shrank the most in near two years. Meanwhile, minutes from the June FOMC meeting showed that “most participants” expected rate cuts would be appropriate later this year, with any inflation from tariffs seen as “temporary or modest.” Markets largely brushed off fresh tariff threats from U.S. President Trump, with analysts noting investors appear increasingly “numb” to the shifting rhetoric.
However, gains were capped by caution ahead of China’s June trade data due over the weekend.
Top movers included KE Hlds. (6.8%), Smoore Intl. (6.2%), China Resources Land (4.5%), and China Overseas Land (4.3%). On the downside, Hong Kong's tech stocks fell slightly despite a record close on the Nasdaq Composite, where Nvidia hit an all-time high.
Source: Trading Economics
