The Hang Seng climbed 253 points or 1.1% to close at 23,907 on Thursday, notching its third straight gain and a two-week high. Broad-based sector advances drove the rally, with sentiment boosted by a rebound in China's services activity for May, following April's seven-month low.
The tech index led the rise, up near 2.0% after a strong performance in Chinese ADRs listed in New York. Property, consumer, and financials also advanced, aided by optimism over potential U.S.-China trade talks, despite President Trump saying it was "extremely hard" to reach a deal with Xi Jinping.
Meantime, U.S. futures rose modestly after Trump called for rate cuts and criticized Fed Chair Powell, following weak ADP jobs data. On the corporate front, BOC Aviation Ltd. announced plans to purchase nine Airbus aircraft for lease to Avianca, while Prada Spa added 0.7% after acquiring a 10% stake in Italian leather firm Rino Mastrotto. Top gainers included Kuaishou Tech (4.7%), SMIC (3.8%), and Meituan (2.6%).
Source: Trading Economics
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