The Hang Seng rose 36 points or 0.2% to end at 22,008 on Tuesday, mainly helped by strength in tech and financials after a muted prior session. Markets trimmed early gains, amid caution ahead of April's official PMI data in China that will be due Wednesday.
Investors continued to await more clarity on U.S. tariff plans and their potential impact on China. Beijing Monday held off on new stimulus but reiterated support for exporters and workers affected by U.S. tariffs and said contingency plans for the economy are in place. Meantime, mainland markets will be closed from May 1 for a 5-day Labour Day break.
Auto stocks advanced, with Geely up 3.7% and Li Auto 2.2%, as President Trump plans to ease some duties on foreign auto parts to help U.S. carmakers. Wuxi AppTec jumped 4% on strong Q1 profits. Other notable gainers included Sichuan Kelun-Biotech (9.5%), Alibaba Health (6.5%), Trip.com (2.9%), and Meituan (2.8%).
Meanwhile, Sinopec fell 1.4% after reporting weaker quarterly earnings.
Source: Trading Economics
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