Hong Kong stocks jumped 400 points, or 1.7%, to 24,091 in early trading on Tuesday, rising for a third straight session and hitting a one-week high. Sentiment was boosted by a rally in U.S. futures and easing geopolitical tensions after President Trump announced a temporary ceasefire between Israel and Iran, starting around midnight Monday, Washington time.
The market also welcomed comments from Fed Vice Chair Michelle Bowman, who hinted at the possibility of an interest rate cut as early as July. In China, the top legislature, known as the NPC Standing Committee, will meet this week to review a draft revision of an anti-unfair competition law aimed at curbing fierce competition on online platforms and strengthening regulatory authority.
The gains in Hong Kong were broad-based, with all sectors up more than 1%, supported by the strongest Stock Connect inflows in three weeks. SMIC rose 2.8% amid reports of possible new US tech curbs, while China Hongqiao Group rose 5.3%, Li Auto 4.4% and Techtronic Industries 3.6%. (alg)
Source: Trading Economics
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