Hong Kong's stocks surged 460 points or 2.3% to a near 8-week high of 20,674 during the Tuesday morning session, following a muted close the prior day. The surge was boosted by a rise in US futures after President Trump and leaders of Canada and Mexico reached a deal to put tariffs on hold for a month.
Meanwhile, China is preparing to complain to the World Trade Organization to avoid tariff hikes and tech curbs imposed by the Trump administration. Locally, the city's economy grew by 2.4% yoy in Q4 2024, accelerating from a 1.9% rise in Q3 and slightly surpassing forecasts of 2.3%.
Gains were widespread across sectors, with tech leading at nearly 4%, and consumers adding almost 3%. Limiting further increases were Monday's data from a private survey company that showed factory activity in China grew the least since October in January. Xiaomi Corp. jumped 4.9%, followed by Li Auto (4.6%), Haidilao Intl. (3.9%), Geely Auto (3.7%), and Semiconductor Manufacturing (2.6%).
Source: Trading Economics
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