The Hang Seng jumped 510 points or 2.4% to close at a more than 3-week high of 22,073 on Wednesday, rising for a third session. The rally followed a surge in U.S. futures after President Trump said he had no plans to fire Fed Chair Powell and signaled the possibility of lower tariffs on China.
Trump also backed off earlier threats to remove Powell, having recently urged the Fed to cut interest rates. Financials, consumer, and tech stocks posted solid rises of 2% to over 3%, as investors looked ahead to the upcoming Politburo meeting for clearer policy direction.
Citi noted the session could be held later this week. Tencent climbed 3.0% and NetEase added 1.7% after titles from both companies were among 118 games approved by China's National Press and Publication Administration in April.
Xiaomi surged 6.9% as Q1 shipments in China soared 40% to 13.3 million units. Other top gainers included BYD Electronic (6.1%), KE Holdings (6.0%), Wuxi Biologics (5.3%), and Akeso Inc. (4.6%).
Source: Trading Economics
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