SHANGHAI: Hong Kong stocks rose on Friday and were set for a sixth straight weekly gain, underpinned by renewed listing momentum and signs of easing Sino-US trade tensions. China stocks edged up on the day.
China stocks flat, Hong Kong tracks regional peers lower on US fiscal concerns
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China’s blue-chip CSI300 Index inched up 0.3% by the lunch break, while the Shanghai Composite Index gained 0.1%. Hong Kong benchmark Hang Seng was up 0.6%.
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For the week, the Hang Seng Index is up 1.4% so far, while the CSI300 index added 0.9%.
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Hong Kong’s listing market showed signs of revival in 2025, buoyed by the strong debut of battery giant CATL , which raised $4.6 billion in the world’s largest listing so far this year.
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Shares of pharma giant Jiangsu Hengrui soared more than 30% in their Hong Kong debut on Friday, lifting sentiment across the healthcare sector. The CSI Healthcare Index rose 1.4%.
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BYD shares jumped nearly 4% after reports showed the Chinese automaker sold more electric vehicles in Europe than Tesla. Auto shares tracked gains and were up over 3%. Li Auto’s shares rose 3.2%.
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A slew of investment banks including Morgan Stanley and UBS raised their forecasts for the Hang Seng Index this month, citing improved corporate earnings and a thaw in Sino-US trade tensions following a tariff truce.
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Xiaomi’s said it will start selling its YU7 electric vehicle in July. Its shares were roughly flat after the news.
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