The Hang Seng ended little changed to end at 23,333 on Monday, swinging early drop amid gains mainly from consumer stocks. Sentiment improved after China's April factory activity showed strength despite rising U.S. tariffs.
Meantime, new home prices in the mainland fell the least in 11 months, though it marked the 22nd straight monthly drop. Investors also awaited a scheduled call between U.S. President Trump and Russian Putin, hoping it could ease tensions over the war in Ukraine.
Locally, Hong Kong's economy expanded 3.1% yoy in Q1 2025, in line with flash estimates and up from a revised 2.5% in Q4, supported by strong exports ahead of expected U.S. tariff hikes.
On the corporate front, Nvidia is scouting for an R&D site in Shanghai, underscoring China's strategic importance. Top gainers included Pop Mart International (5.7%), Meituan (2.7%), SMIC (2.2%), and Trip.com (2.0%), while Zhejiang Leapmotor (-3.5%), Sunny Optical (-2.8%), Li Auto (-2.7%), and Chow Tai Fook (-2.4%) declined.
Source: Trading Economics
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