Hong Kong stocks rose 266 points, or 1.3%, to 21,324 in early trade on Thursday, led by broad sector gains. The gains followed a weak session and came amid a surge in U.S. stock futures, following an overnight sell-off on Wall Street sparked by Fed Chair Powell's warning that trade tensions could threaten the Fed's inflation and employment targets. Meanwhile, mainland Chinese markets attempted to extend their four-day winning streak after better-than-expected Q1 GDP data. Additionally, reports suggested that Beijing was seeking specific steps from President Trump before agreeing to trade talks. Elsewhere, state-backed investors were reported to have intervened in Chinese markets on Wednesday afternoon, with trading volumes surging in several ETFs tracking major indices. However, gains were capped by uncertainty over looming tariffs, as investors struggled to navigate rapidly evolving countermeasures. Top performers included Longfor Group (+5.5%), KE Holdings (5.2%), SMIC (3.2%), and Tencent Hlds. (2.5%).(Newsmaker23)
Source: Trading Economics
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