Hong Kong stocks log sixth straight weekly gain on listing momentum
Hong Kong stocks closed roughly flat on Friday, logging a sixth straight weekly gain, underpinned by renewed listing momentum and signs of easing Sino-U.S. trade tensions. China stocks fell on the day.
China's blue-chip CSI300 Index ended 0.8% lower, while the Shanghai Composite Index lost 0.9%. Hong Kong benchmark Hang Seng HSI was up 0.2%.
For the week, the Hang Seng Index was up 1.1%, while the CSI300 index lost 0.2%.
Hong Kong's listing market showed signs of revival in 2025, buoyed by the strong debut of battery giant which raised $4.6 billion in the world's largest listing so far this year.
Shares of pharma giant Jiangsu Hengrui soared 25% in their Hong Kong debut on Friday. The CSI Healthcare Index edged up 0.3%，bucking a broader market decline as most other sectors ended in losses.
BYD shares jumped as much as 4.6% after reports showed the Chinese automaker sold more electric vehicles in Europe than Tesla. Auto shares tracked gains and were up 1.7%. Li Auto's shares rose 1.1%.
Weakness in China's property sector is expected to persist this year with home prices falling nearly 5% and set to remain stagnant in 2026, a Reuters poll showed.
China has lowered the ceiling of deposit rates, Reuters reported on Friday, as authorities seek to protect banks' profit margins and discourage savings. The CSI Bank Index finished 1% lower.
Xiaomi said it will start selling its YU7 electric vehicle in July. Its shares were roughly flat after the news.
Source: Reuters
