Hong Kong stocks rise on Wall Street gains, Trump’s US-China optimism
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Hong Kong equities closed the week on a strong note, buoyed by gains on Wall Street and positive comments from US President Donald Trump about US-China trade relations.
Indices gain momentum
The Hang Seng Index climbed 1.86%, finishing at 20,066.19, while the Hang Seng China Enterprises Index rose 2.06%, closing at 7,312.16. These gains reflect broader optimism despite lingering trade tensions between the two global powers.
Trump's encouraging remarks
In a recent address, President Trump underscored the importance of fair trade with China and hinted at cooperation to tackle fentanyl imports into the US. These comments spurred hopes for improved ties, though they were tempered by a US legislative push to revoke China’s preferential trade status and increase tariffs, raising concerns about global trade disruptions.
Corporate developments
Shares of Kindstar Globalgene Technology rose nearly 3% after the company announced acquisitions within the biotechnology sector.
Solartech International gained almost 2% ahead of a shareholder vote on the proposed sale of assets by its subsidiary.
Meanwhile, First Service Holding saw a 2% dip as it prepares for a vote on investments in wealth management products from major Chinese banks.
Outlook
While optimism over US-China cooperation is lending support to Hong Kong markets, ongoing geopolitical tensions and trade uncertainties remain key factors to watch in the weeks ahead.
Indices gain momentum
The Hang Seng Index climbed 1.86%, finishing at 20,066.19, while the Hang Seng China Enterprises Index rose 2.06%, closing at 7,312.16. These gains reflect broader optimism despite lingering trade tensions between the two global powers.
Trump's encouraging remarks
In a recent address, President Trump underscored the importance of fair trade with China and hinted at cooperation to tackle fentanyl imports into the US. These comments spurred hopes for improved ties, though they were tempered by a US legislative push to revoke China’s preferential trade status and increase tariffs, raising concerns about global trade disruptions.
Corporate developments
Shares of Kindstar Globalgene Technology rose nearly 3% after the company announced acquisitions within the biotechnology sector.
Solartech International gained almost 2% ahead of a shareholder vote on the proposed sale of assets by its subsidiary.
Meanwhile, First Service Holding saw a 2% dip as it prepares for a vote on investments in wealth management products from major Chinese banks.
Outlook
While optimism over US-China cooperation is lending support to Hong Kong markets, ongoing geopolitical tensions and trade uncertainties remain key factors to watch in the weeks ahead.