The Hang Seng climbed 139 points or 0.6% to close at 23,483 on Wednesday, partially rebounding from a near two-week low in the prior session. Sentiment improved after the Trump administration suggested that upcoming US tariffs may be more targeted than initially feared.
Traders also welcomed news that Morgan Stanley raised its 2025 year-end targets for Chinese stocks, while Goldman Sachs strategists predicted further upside driven by positive earnings revisions. Geopolitical developments also provided support, with the US announcing a Russia- Ukraine ceasefire in the Black Sea. However, a slight drop in US futures limited gains amid caution ahead of key US PCE inflation data later this week. Most sectors rose, led by tech, consumers, and property.
WH Group jumped 4.7% on profit growth and a special dividend, while Alibaba rose 1.4% after partnering with BMW AG on AI for cars in China. Other notable gainers included Shenzhou Intl. (12.4%), Haidilao Intl. (6.1%), and Akeso Inc. (4.0%).
Source: Trading Economics
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