The Hang Seng Index surged 532 points, or 2.3%, to close at 23,641 on Wednesday, staging a strong rebound from the previous session’s sharp losses. The rally was fueled by relief over softer-than-expected U.S. consumer inflation data, which eased fears of aggressive monetary tightening and reduced concerns about the potential inflationary effects of U.S. tariff policies on global trade. The gains were broad-based, with consumer-related and financial stocks leading the advance, reflecting improved sentiment toward sectors sensitive to economic growth and consumption recovery.
Hang Seng soars 2.3% at finish
The tech sector also posted solid gains, buoyed by upbeat developments in the global semiconductor space. Shares of Nvidia and AMD gained after reports confirmed they will supply high-performance chips to Saudi Arabia’s Humain for a major data center project, signaling strong demand for AI-related infrastructure in emerging markets. In addition, sentiment was lifted by reports that the U.S. government is considering a deal that would allow the United Arab Emirates to purchase over a million units of advanced Nvidia chips, a move seen as part of Washington’s balancing act between technological export controls and fostering strategic partnerships.
Investor attention also turned toward upcoming earnings from China’s tech heavyweights, with Tencent scheduled to report later today and Alibaba following on Thursday. Market participants are closely watching these results for clues on how leading Chinese firms are weathering ongoing trade uncertainties, regulatory headwinds, and sluggish domestic demand.
Stocks performance
Among individual movers, Meituan rose 1.2% after announcing its expansion into the Brazilian market with its food delivery app Keeta, marking another step in its internationalization strategy. JD.com jumped 3.6% following stronger-than-expected quarterly earnings, reflecting resilient e-commerce demand and improved margins. Other notable gainers included Smoore International, which surged 9.7% on optimism over the vaping sector’s overseas growth prospects, Zhejiang Leapmotor, which climbed 6.0% amid upbeat EV sales momentum, Orient Overseas, which advanced 4.8% on rising freight rates, and Wuxi Biologics, which added 2.8% as investors rotated back into biotech stocks.
