HONG KONG: Hong Kong stocks climbed on Friday to nearly a one-month high as signs of easing Sino-US trade tensions comforted investors, while electronic vehicle (EV) makers rallied on strong sales.
China, Hong Kong stocks little changed ahead of long holiday as trade war hits factories
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Hong Kong’s benchmark Hang Seng Index added 1.7% to 22,493.96 as of the midday trading break, the highest since April 3.
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The gain followed the 4.3% decline in April, the worst month for the benchmark since November 2024 as US President Donald Trump’s “reciprocal tariff” triggered a global markets rout.
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The Hang Seng China Enterprises Index rose 1.8% to 8,224.45 - also a one-month high.
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The mainland markets are closed till next Tuesday for the Golden Week holiday.
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China’s Commerce Ministry said Beijing is “evaluating” an offer from Washington for talks over Trump’s crippling tariffs, signalling a potential de-escalation in the trade war that has roiled global markets.
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Investors have taken comfort from signs of potential de-escalation between the US and China and the opening of trade talks with Japan and others, analyst at Citi said.
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EV makers are among the top performers in Hong Kong, driven by the strong April delivery figures.
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Xpeng surged 7.6% to a one-week high after reporting a 273% year-on-year surge in smart EV deliveries last month. Peer Li Auto climbed 4.4% and BYD gained 2%, supported by sales increases.
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Tech stocks advanced, with the Hang Seng Tech Index adding 3.3%. Alibaba strengthened more than 4% and Tencent added 2.4%. Both stocks were near their one-month highs.
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The Chinese yuan strengthened in offshore trading to as much as 7.2524, its strongest level in a month.
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