Hang Seng Index rises, tracking other Asian markets, as Trump pauses most tariffs
Hong Kong's
benchmark stock index extended gains on Thursday amid advances across most Asia-Pacific markets, after US President Donald Trump put a 90-day pause on import tariffs for most of America's trading partners – except China.
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The Hang Seng Index rose 2.1 per cent to 20,681.78 at the close of trading, the biggest jump in nearly four weeks. The Hang Sang Tech Index gained 2.7 per cent. The CSI 300 Index, which tracks the 300 largest companies in Shanghai and Shenzhen, rose 1.3 per cent. The Shanghai Composite Index increased 1.2 per cent and the Shenzhen Composite Index rose 2.5 per cent.
All but six of the Hang Seng Index's 83 member stocks strengthened, with exporters and manufacturers leading gains. Optical lens maker
Sunny Optical Technology jumped 5.4 per cent to HK$62.20, electric-car maker
Li Auto advanced 4.8 per cent to HK$85.40 and PC maker
Lenovo Group surged 7.1 per cent to HK$8.03.
On the downside, Meituan lost 0.7 per cent to HK$145.40 and ENN Energy fell 0.8 per cent to HK$60.
Benchmarks elsewhere in the Asia-Pacific region rose sharply. The Nikkei 225 index rose 9.1 per cent, lifting Japan's stock index out of a bear market. South Korea's Kospi Index added 6.6 per cent and Australia's S&P/ASX 200 Index jumped 4.5 per cent.
07:26
Stock markets in Asia resume slump as hefty US tariffs on China take effect
Stock markets in Asia resume slump as hefty US tariffs on China take effect
Overnight, Trump put a 90-day pause on applying tariffs on its trading partners – with the exception of mainland China and Hong Kong. That announcement sent Wall Street on a tear, driving a 9.5 per cent gain in the S&P 500 Index, while the Nasdaq Composite Index closed 12.2 per cent higher for the most substantial rally in 24 years.
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