The Hang Seng surged 354 points or 1.5% to end at 23,512 on Tuesday, reversing Monday's losses amid strength in all sectors.
Hopes that President Trump and China's leader Xi Jinping may speak this week boosted sentiment, signaling a potential easing in trade tensions. Meantime, Finance Secretary Paul Chan reaffirmed Hong Kong's 2025 GDP growth target of 2% to 3%, citing solid Q1 data as well as recent monetary easing and business support measures in China.
In corporate news, Vodafone and CK Hutchison finalized their UK merger, launching VodafoneThree with plans to invest £11 billion over 10 years in a standalone 5G network. Gains were capped, however, by private survey data showing China's manufacturing shrank the most in over two years in May, pressured by U.S. tariffs. Li Auto soared 5.7% on strong May sales.
Hansoh Pharma rose 1.2% on optimism over its licensing deal with Regeneron. Other top movers included Laopu Gold (5.5%), Swire Properties (5.1%), and CK Hutchison (4.0%).
Source: Trading Economics
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