Hong Kong stocks rose 259 points, or 1.1%, to 23,368 in early trade on Wednesday, recovering from sharp losses in the previous session as most sectors rallied ahead of key earnings from major Chinese technology companies. The Hang Seng Tech Index led the gains, jumping 1.3%, after a rally in U.S. chipmakers overnight on news that Nvidia and AMD will supply semiconductors to Saudi firm Humain for data center projects.
Ubtech Robotics jumped 3.3% after announcing a partnership with Huawei to launch humanoid robots in homes and factories. Consumer and financial stocks also posted solid gains, lifted by optimism over a temporary U.S.-China tariff truce. Meanwhile, President Trump said he would speak directly with Chinese President Xi Jinping in the coming days. However, gains were capped by caution ahead of April credit growth data from China. In March, new yuan loans had already topped expectations. Top performers included SITC Intl. (6.0%), Zhejiang Leapmotor (5.5%), and AIA Group (3.2%).(Newsmaker23)
Source: Trading Economics
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