Hong Kong stocks jumped 322 points, or 1.4%, to 23,188 on Monday morning, marking their eighth straight session of gains and hitting a 1-1/2-month high. The rally followed a strong surge in U.S. stock futures amid signs of progress in U.S.-China trade talks over the weekend. Washington has highlighted progress toward a deal while Beijing has confirmed both sides have agreed to start formal negotiations. Investor sentiment was further boosted by easing geopolitical tensions, including a fragile ceasefire between India and Pakistan and Ukrainian President Zelenskiy's openness to meeting Russia's Putin. All sectors posted broad gains, as Hong Kong plans to overhaul its tourism industry. However, the upward momentum was tempered by weak April CPI/PPI data from China, with consumer prices falling for a third month and producer prices posting their sharpest drop in six months. Top gainers included Techtronic Inds. (4.2%), Trip.com (3.0%), Li Auto (2.6%), and Tencent Hlds. (1.7%).(Newsmaker23)
Source: Trading Economics
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