Shares in Hong Kong surged 346 points, or 1.5%, to 24,138 during Monday morning trading, rebounding from losses in the prior session and hitting a 12-week high, with gains seen across all sectors.
The rally was led by rare-earth and technology stocks as investors looked ahead to high-level U.S.-China trade talks. U.S. Treasury Secretary Bessent and Chinese Vice Premier He Lifeng are set to meet in London today in a bid to resolve ongoing trade tensions between the world's two largest economies.
The talks follow a rare phone call last Thursday between Chinese President Xi Jinping and U.S. President Donald Trump, amid escalating friction over trade and critical minerals.
However, further gains were limited by rising deflation pressures on the mainland, with consumer prices falling for the fourth month in May and producer prices posting their steepest fall in near two years. Further, investor caution prevailed ahead of China's May trade data release later today.
Source: Trading Economics
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