The Hang Seng Index rose 92 points, or 0.4%, to close at 22,868 on Friday, marking its seventh consecutive session of gains as investor sentiment remained buoyant.
Hang Seng surges by 1.6% this week
The rally was led by property and financial stocks, which benefited from improved risk appetite following a better-than-expected set of trade data from China. Official figures showed that exports continued to expand in April, demonstrating resilience despite mounting pressure from the U.S.'s sweeping tariff hikes. Meanwhile, imports contracted at a slower pace than anticipated, suggesting that Beijing’s measures to stimulate domestic consumption may be gaining some traction. The data helped alleviate some concerns over China’s near-term growth trajectory and added to a broader sense of market optimism.
The Hang Seng hovered at a one-month high throughout the session, drawing further support from a strong performance on Wall Street the previous day. For the week, the benchmark rose 1.6%, booking its fourth straight weekly gain and its longest winning streak since February, underscoring a shift in sentiment toward cautious optimism.
Trade news encouraged investors
Investors were also encouraged by comments from President Donald Trump, who struck a more conciliatory tone regarding ongoing U.S.-China trade negotiations. Trump hinted that the aggressive 145% tariffs imposed earlier this year on Chinese goods could be rolled back if talks progress, helping ease fears of a prolonged trade war that has weighed heavily on regional markets.
Nevertheless, some caution remained ahead of the weekend as markets awaited China’s latest inflation data, including the consumer and producer price indexes (CPI and PPI) for April, which could provide further insight into domestic economic conditions and policy direction.
In other news, Hong Kong’s foreign exchange reserves declined to $408.7 billion in April, the lowest level since July 2017, raising some concerns about potential capital outflows or intervention measures.
Among the top-performing stocks, Pop Mart jumped 6.7% on strong quarterly sales, Henderson Land Development rallied 6.0% on expectations of easing financing conditions, Prada SpA gained 4.6% on upbeat earnings guidance, and Sun Hung Kai advanced 4.6% on renewed investor interest in property developers amid signs of stabilization in the housing sector.
