Hong Kong stocks rose 187 points, or 0.8%, to 22,881 in early trading on Thursday, extending gains for a sixth straight session amid a small rise in U.S. stock futures after the Federal Reserve kept its benchmark interest rate steady for a third straight meeting, as expected. Echoing the Fed, the HKMA also kept its benchmark interest rate unchanged at 4.75%. Market sentiment was further boosted by reports that President Trump will hold a press conference to discuss a major trade deal later in the day. In China, the People's Bank of China (PBOC) unveiled sweeping policy measures on Wednesday, including interest rate cuts, to support growth amid rising trade tensions. Gains were led by consumer and technology stocks, while financials slowed. However, gains were capped by concerns over Beijing's reluctance to introduce new fiscal measures. Caution also grew ahead of key Chinese economic data, including April trade figures and CPI/PPI reports. Among the best performers were Li Auto (4.0%), Laopu Old (3.5%), Meituan (3.2%), and Tencent Holdings (1.3%).(Newsmaker23)
Source: Trading Economics
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