The Hang Seng rose 57 points or 0.24% to close at 23,601 on Friday, rebounding from sharp losses in the prior session amid gains in financials. Sentiment improved after the PBoC injected CNY 500 billion into the system through its one-year lending facility.
The central bank also lowered the cap on deposit rates to support bank profitability and encourage spending over saving. For the week, the index added 1.1%, marking its sixth straight weekly rise—the longest streak since February—boosted by strong IPO momentum.
Meanwhile, Beijing and Washington remained in high-level contact during a trade truce expected to last until July.
However, gains were capped by concerns over rising U.S. government debt, especially after the House passed Trump's sweeping tax-cut bill, sending it to the Senate. BYD rose 1.6% after surpassing Tesla in EV sales in Europe, while pharma names like Innovent Biologics (3.7%) and CSPC Pharma (2.0%) also gained. Zhaojin Mining rose 1.8% as gold prices remained firm.
Source: Trading Economics
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