Shares in Hong Kong jumped 424 points or 1.8% to 24,454 on Friday morning, extending gains from the prior session and hitting a two-week high. The uptrend tracked record closes on Wall Street, with the S&P 500 and Nasdaq reaching fresh highs.
Optimism also mounted over a more coordinated policy response from China after June's producer prices posted the steepest drop in nearly two years. All sectors climbed, led by tech, financials, and consumer stocks. The market is up about 2% so far this week, rebounding from losses in the previous one.
However, further gains were capped by caution ahead of China's June trade data due Saturday, along with next week's key releases on June activity and second-quarter GDP.
Meanwhile, President Trump reportedly plans to impose blanket tariffs of 15–20% on most major trade partners after announcing 35% tariffs on Canadian imports starting August 1. Leading gainers included Wuxi Biologics (3.9%), SenseTime Group 3.3%), AIA Group (2.9%), and Meituan 2.6%).
Source: Trading Economics
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