The Hang Seng rose 184 points, or 0.8%, to close at a nearly three-month high of 24,349 on Wednesday, recovering from a slight decline in the previous session while extending its upward momentum since early June amid broad sector strength.
Optimism grew over progress in U.S.-China trade talks, although further details on an agreed framework were awaited. Significant gains in mainland stocks also lifted sentiment, helping offset a mild decline in U.S. futures ahead of key inflation data. In corporate news, Chinese automakers pledged to shorten supplier payment terms amid an escalating price war. JL Mag Rare-Earth Co.
Rose 2.8% after securing licenses to export products to the U.S., Europe and Southeast Asia. Pop Mart jumped 3.6% after hitting a new sales record for its "blind box" toys. Huitongda Network rose nearly 3% on a plan to buy back CNY500 million worth of H shares. Other companies that posted the highest increases included China Hongqiao Group (5.3%), China Resources Land (1.5%), and HKEX (1.4%).(alg)
Source: Trading Economics
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