Shares in Hong Kong added 33 points or 0.1% to 23,813 in a volatile trading session on Wednesday morning after a muted close the day before. A modest rise in US futures supported sentiment after a weak day on Wall Street overnight ahead of CPI prints later today.
Traders also digested reports that Ukraine had agreed to an immediate 30-day ceasefire with Russia during talks with the U.S. in Saudi Arabia. In China, the annual parliamentary gathering concluded Tuesday, approving the central budget for 2025 and adopting a resolution on the 2024 work. Further gains were tempered, however, by uncertainty surrounding U.S. President Donald Trump's tariff policies and fears of recession in the world's largest economy.
Alibaba Hlds. surged almost 5%, boosted by a partnership deal with China's Manus AI. Other movers included Miniso Group (8.1%), China State Construction (3.0%), and SITC Intl. (2.8%). Conversely, Prada Spa tumbled (-8.0%), alongside ZTO Express (-4.6%), and Shenzhou Intl. (-2.8%).
Source: Trading Economics
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