Hong Kong stocks rise even as looming Trump tariffs keep sentiment in check
The Hang Seng Index is under consolidation as traders await development on the US tariffs front, says analyst Kenny Wen
Hong Kong stocks rose for the first time in three days on Monday, clawing back some of last week’s losses even as caution prevailed ahead of US President Donald Trump’s next round of tariffs.
The Hang Seng Index closed 0.9 per cent higher at 23,905.56, following lacklustre trading for most of the day, which saw the gauge swing between an intraday high of 23,960.27 and a low of 23,533.64. The Hang Seng Tech Index climbed 1.7 per cent. On the mainland, the CSI 300 Index gained 0.5 per cent and the Shanghai Composite Index advanced 0.2 per cent.
Hong Kong’s stock gauge lost 1.1 per cent last week.
Haier Smart Home led the gainers with a 6 per cent rise to HK$27.30, as the Chinese household appliance giant unveiled a front-loading washing machine capable of handling three separate loads simultaneously. Zijing Mining Group, one of China’s top producers of gold, surged 5 per cent to HK$18.14. Xiaomi added 4.2 per cent to HK$57.00 after the smartphone and electric vehicle (EV) maker revised its car sales forecast up by 16 per cent.
CK Hutchison, which has been criticised by Beijing for its plans to sell its global ports assets to BlackRock, jumped 4.2 per cent to HK$45.05. BYD, the world’s largest EV maker, rose 3 per cent to HK$403.40 ahead of its earnings release.
Weighing on the gains were New Oriental Education & Technology, a private education company on the mainland, which declined 7.2 per cent to HK$37.20. Sinopharm Group fell 3.1 per cent drop to HK$18.78 after China’s largest supplier of pharmaceuticals and medical devices said its net profit fell more than 22 per cent in 2024.