The Hang Seng surged 532 points or 2.3% to close at 23,641 on Wednesday, recovering from the prior session's sharp drop after softer-than-expected U.S. consumer inflation eased concerns over the inflationary impact of U.S. tariff policies.
Gains were broad-based, led by consumers and financials. The tech index also saw solid gains, as Nvidia and AMD will supply semiconductors to Saudi Arabia's Humain for a data center project. Separately, the U.S. is reportedly mulling a deal allowing the UAE to import over a million advanced Nvidia chips.
Investors turned their focus to earnings from major Chinese tech firms, with Tencent reporting later today and Alibaba on Thursday, which may provide insights into how they're navigating geopolitical uncertainty.
Meituan rose 1.2% after expanding into Brazil with its Keeta app, while JD.com jumped 3.6% on strong earnings. Other notable gainers included Smoore Intl. (9.7%), Zhejiang Leapmotor (6.0%), Orient Overseas (4.8%), and Wuxi Biologics (2.8%).
Source: Trading Economics
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