The Hang Seng rose 167 points or 0.8% to close at 21,562 on Tuesday, swinging from early declines amid a jump in U.S. futures.
The recovery followed a rout on Wall Street Monday, after President Trump intensified pressure on Fed Chair Jerome Powell, labeling him a "major loser" and demanding immediate rate cuts.
Investor sentiment also improved after reports suggested China's "national team" and retail investors stepped in to support mainland equities. All sectors ended in the green, led by property, financials, and consumer stocks.
Wanda Hotel surged 9.7% after Tongcheng Travel agreed to acquire a 100% stake in the company. Logistics firm S.F. Holding surged almost 4% on stronger March revenue.
Pharma stocks rallied, with CSPC Pharmaceutical (8.8%), Hansoh Pharmaceutical (6.8%), and Wuxi Biologics (4.9%) posting solid gains. However, e-commerce shares such as JD.com (-6.7%) and Meituan (-5.7%) slipped amid growing concerns over margin pressures in the competitive food delivery market.
Source: Trading Economics
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