The Hang Seng rose 100 points or 0.4% to close at 23,382 on Tuesday, partly recovering from the prior session's slump amid broad-based sector gains. Sentiment was lifted by data showing a pickup in China's industrial profits for April, suggesting resilience despite ongoing U.S. trade tensions and deflation risks.
A rally in U.S. futures also supported the mood as Wall Street was set to reopen after Monday's break. Meantime, President Trump backed away from his threat to impose 50% tariffs on EU imports, restoring the original July 9 deadline.
However, gains were capped by Hong Kong's April trade data, which showed imports rising faster than exports, widening the trade gap. Caution also emerged as price competition among Chinese EV makers grew.
Looking ahead, China's official PMI data for May—due this weekend—will be closely watched due to concerns over weak factory activity. Top gainers included Smoore Intl. (9.3%), Mixue Group (8.9%),Pop Mart Intl. (5.1%), and Hansoh Pharma (3.7%).
Source: Trading Economics
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